Dubai Chambers discusses ecommerce and highlights the role of trade law

- Dubai Chambers discusses ecommerce and highlights the role of trade law in promoting the growth of the sector

Dubai Chambers has successfully hosted a workshop examining Federal Decree Law No. 14/2023 on Trading by Modern Technological Means. The session was aimed at highlighting the importance of the law and enhancing awareness among the local business community on its vital role in promoting the growth of the ecommerce sector.

Hosted in collaboration with BSA Ahmad Bin Hezeem & Associates, the workshop was attended by number of participants from the private sector and addressed the application of the law, as well as a range of topics related to the ecommerce sector including contracting mechanisms, logistics regulations, insurance, digital identity, and data protection.

The session equipped participants with a better understanding of the legal aspects surrounding ecommerce transactions following the implementation of the new law. Adopting a forward-thinking approach, the workshop also offered comprehensive insights on digital identity and dispute resolution mechanisms, together with the legislation’s relationship with other relevant laws.

The timely session comes in the wake of a period of rapid development within the UAE’s ecommerce sector. The value of ecommerce sales in the country is expected to achieve a Compound Annual Growth Rate (CAGR) of 10% between 2023 and 2028 to reach more than AED 42.1 billion in 2028.

According to the Dubai Quarterly Business Survey for Q1 2024 issued by Dubai Chambers, which gathered the opinions of 507 CEOs and managers of companies operating in Dubai, ecommerce ranked third among the most prominent areas targeted by participants who planned to benefit from digital technology during the first quarter of the year. Digital payment solutions came first, followed by digital marketing in second place and artificial intelligence (AI) in fourth place.

As the engine of Dubai’s economic development, Dubai Chambers plays a crucial role in facilitating and improving the ease of doing business in Dubai while delivering value-added services. The organisation is committed to boosting the growth of local businesses and serves as a bridge connecting Dubai’s dynamic business community with the government, acting as a powerful advocate for the emirate’s business interests.