The UAE is drafting a new law to combat the sale of fake goods, with those caught selling replica consumer goods to face up to two years in prison and of up to AED250,000 ($68,064).
The anti-fraud bill is currently being reviewed by a Federal National Council committee, in a bid to curb the sale of counterfeit products and fake goods in the emirates.
The existing law implemented by the Ministry of Economy in 1979 does not specifically address the sale of fake branded goods and is outdated, according to a report by The National newspaper.
The sale of replica consumer goods is a well-known practice in some parts of Dubai and the wider emirates and the FNC has warned retailers against selling goods they know are fakes.
“But imitations of brands and replicas are in the market. This law will play a big role to stop this,” Ali Al Nuaimi, deputy head of the finance committee, was quoted as saying in the report.
Under the new law being reviewed, those caught smuggling or selling fake brands could face up to two years in prison and a fine of between AED50,000 and AED250,0000.
Those caught selling fake human food products or medication could face prison and a fine of up to AED1m.
The law will need to passed by the president of the UAE and is likely to be implemented by the summer of 2014.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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