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• Commodity prices and consumer protection discussed between representative of public and private sectors
• H.E. Buamim: It is necessary for food and beverage traders, retailers and suppliers to meet the Ministry of Economy to achieve qualitative and competitive prices
• H.E. Al Shehhi: Food traders need to adopt more innovative solutions to address rising global prices
Dubai - As part of its efforts to promote two-way communication between the public and private sectors, Dubai Chamber of Commerce and Industry recently organised a meeting bringing together Ministry of Economy officials with more than 20 representatives from the UAE's food and beverage sector to discuss commodity prices and consumer protection.
The meeting was chaired by H.E. Hamad Buamim, President and CEO of Dubai Chamber, and was attended by H.E. Mohammed Ahmed Bin Abdul Aziz Al Shehhi, Undersecretary for Economic Affairs, and Mr. Humaid Ali Bin Butti Al Muhairi, Assistant Undersecretary for Commercial Affairs and Consumer Protection Sector, the Ministry of Economy.
Opening the meeting, H.E. Buamim pointed out that Dubai Chamber is working in cooperation with its strategic partners, including the Ministry of Economy, to support private sector growth, while taking into account consumer rights and protection.
He said that the meeting was a positive step as it discussed overcoming obstacles for retailers and suppliers under the Chamber's efforts to promote the growth of the economy, while raising awareness of consumer rights and traders' duties.
The President and CEO of Dubai Chamber, urged food and beverage traders to form a common platform under the Chamber's Food and Beverage Business Group as this would benefit them by promoting their point of view and helping to address their concerns.
During the interactive session, participants raised the challenges they face with the official mechanism for implementing price changes, which they said was not clear. They said they were unsure which types of commodities were subject to price caps. They also asked about the Ministry's method of accepting or rejecting a request for a price change.
The trade representatives highlighted the common causes of price changes, including the cost of shipping, the quality of services offered and the growing demand by consumers, inflation, tariffs and other factors. They said these factors were often intensified by high promotional fees imposed by sales outlets, like hyper and supermarkets, especially during the start of the Holy Month of Ramadan.
The businessmen asked the Ministry of Economy to prescribe a clearer mechanism for the price change decision-making process and to enhance consumer awareness about price increases caused by circumstances beyond their control. They also confirmed their commitment to consumer rights and to offer added-value products besides agreeing to launch consumer awareness campaigns in cooperation with the Ministry of Economy.
On his part, H.E. Al Shehhi stressed the important role played by the Ministry in supporting the economy, while protecting the rights of the consumers and the business community. He stated that the mechanism adopted by the Supreme Committee for Consumer Protection to control the prices of commodities included consultation with private sector representative organisations, including Dubai Chamber and the UAE Federation of Chambers of Commerce and Industry.
He said that his Ministry was aware of the high global commodity prices and indicated that certain products are protected like dairy, oil and eggs, because they are popular consumer items used by a large segment of consumers.
His Excellency called for more meetings between food and beverage retailers, merchants, outlets and exhibitors and offered his Ministry's participation, saying these assemblies assisted with practical solutions to control price changes that ultimately affect food and beverage dealers as well as consumers.
The Undersecretary for Economic Affairs called on food and beverage traders and retailers to find innovate solutions to price rises by finding competitive markets, suppliers and provision of quality products. He also stressed the importance of increasing awareness of consumer rights, as well as the need to intensify cooperation with all concerned parties for the betterment of the industry.
At the conclusion of the meeting, the participants emphasised on finding a unified channel of communication between the food traders and the Ministry of Economy, adding that this can be through the business groups operating under the umbrella of the Chamber.
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About Dubai Chamber of Commerce & Industry
Established in 1965, the Dubai Chamber of Commerce & Industry is a non-profit public entity, whose mission is to represent, support and protect the interests of the business community in Dubai by creating a favourable business environment, supporting the development of business, and by promoting Dubai as an international business hub.
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© Press Release 2015
