The Dubai Chamber of Commerce and Industry, in collaboration with Middle Eastern law firm Al Tamimi & Company, recently held a workshop to raise awareness about the legal aspects of doing business as commercial agencies within the UAE.
“This workshop provided practical tips and discussed the legal issues related to commercial agencies and how relevant UAE laws impact these arrangements for new entrants, as well as those already operating commercial agencies to avoid future pitfalls in their trading activities,” Dubai Chamber Legal Services Director Jehad Kazim said.
Kazim continued by stating that commercial agencies are essential in the region.
Marcus Wallman, partner at Al Tamimi & Company with a commercial advisory practice, echoed the same sentiment.
“Commercial agency arrangements have always been, and remain, an extremely important part of the UAE’s economy,” Wallman said. “It is crucial for any business looking to enter into such a relationship, whether as principal or agent, to be fully aware of the UAE law issues that they will be faced with. Many disputes that we have been required to advice on may well have been avoided had the parties had a better understanding of the impact of UAE laws applicable to such relationships at the outset.”
