On June 16, the UAE’s commercial agencies law will go into effect.

The new commercial agency law in the UAE will go into effect on June 16, significantly enhancing the business climate’s attractiveness and competitiveness, according to the Ministry of Economy.

According to Abdulla Al Saleh, undersecretary of foreign trade and industry at the UAE Ministry of Economy, the Federal Decree Law No. (3) of 2022 on regulating commercial agencies supersedes the prior 40-year-old legislation. He made the announcement at a press conference on Wednesday in Dubai.

The goal of the new law, according to Mr. Al Saleh, is to “strengthen the expansion of the commercial agency sector, diversify its activities, improve its economic performance, and raise its contribution to the country’s gross domestic product.”

The law ensures that consumers receive high-quality products while assisting in the creation of a business environment that is favorable for growing both domestic and foreign direct investment (FDI).

The second-largest economy in the Arab world has put in place a number of changes to make doing business easier, draw in international investors, create jobs, and diversify its economy away from oil.