The Federal National Council (FNC) of the United Arab Emirates (UAE) has announced that it has approved the draft federal law regarding antidumping and countervailing measures to protect domestic products from cheap imports.
With the new law, the council aims to prevent dumped and subsidized imports from non-GCC countries, to set standards of fair competition between local and foreign products and to increase the revenues of the UAE.
The draft law requires the final approval of the UAE’s president Sheikh Khalifa bin Zayed Al Nahyan and will take effect after publication in the official gazette.