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In light of the geopolitical developments in the region, UAE’s Ministry of Economy said on Saturday that it held strategic reserves of staple goods that were plentiful and “safe”, and urged citizens and residents to avoid stockpiling.
The ministry said that the country’s strategic stock of basic commodities is highly efficient, comprehensive and diverse enough to meet all the needs of local markets for long and reassuring periods of time, stressing that all basic food and non-food commodities are available in ample quantities in all markets and retail outlets in the country.
The ministry explained that it is closely and directly monitoring the stock quantities available at suppliers and various sales outlets through its advanced electronic price monitoring system, where data is continuously collected and analyzed, in addition to conducting comprehensive periodic assessments, to ensure the continuous availability of basic commodities and prevent any potential shortages in the markets, thereby enhancing price stability and ensuring that consumer needs are met.
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Abdullah bin Touq Al Marri, Minister of Economy and Tourism, said, “Thanks to the wise and proactive vision of its wise leadership, the UAE has succeeded in building a flexible economic system capable of facing various regional and global challenges, and the country continues to enhance its readiness and preparedness for various regional and global changes, and places food security and the availability of goods among its top priorities.”
He affirmed that the movement of importing goods and the flow of goods to the markets is proceeding normally, and no indications of supply disruptions or product shortages have been recorded.
He added, “The UAE has proven its superior ability to manage global challenges in supply chains with high efficiency and flexibility. Today, we have a wide network of trade partners around the world, and proactive plans to diversify import sources and continuously open new markets, which ensures the uninterrupted flow of goods. We are in constant contact with all partners in the public and private sectors to ensure the availability of goods and market balance.”
He stressed that providing basic commodities, especially food, is a red line for the country’s leadership, and there is no room for any leniency in food, economic and living security for society in the UAE.
He continued, “We call on the public to remain calm and not to be swayed by any fears or to engage in excessive buying or stockpiling of goods. The country’s markets are full of various goods, merchandise and products that consumers need, and the stock is available in high and secure strategic reserves, and emergency and response plans are ready to ensure continuity in all circumstances.”
The Ministry of Economy and Tourism indicated that all major retailers in the country confirmed the stability of their supply operations and the absence of any unusual changes in supply, imports, warehousing, or the availability of goods. The Ministry also clarified that it maintains direct and daily communication with suppliers, distributors, and retailers to monitor inventory levels, determine the sufficiency of each commodity, and ensure its availability around the clock.
The UAE has a broad and flexible network of trade partnerships and alternative markets, as well as advanced infrastructure and integrated sea, air and land logistics routes, which have made it a regional hub for the distribution and storage of goods.
The ministry also adopts policies to diversify import sources to mitigate risks and enhance food security at all times. Furthermore, the country’s advanced logistics infrastructure and flexible land, air, and sea trade routes contribute to solidifying its position as a pivotal regional hub for the transit and distribution of goods and services, thereby strengthening its ability to efficiently and swiftly meet the needs of the local market.
The ministry called on the public to be aware and responsible, to adopt rational consumer behavior, to buy only what is needed and not to be swayed by rumors, stressing that sales outlets are full of products in abundant quantities, which eliminates the need for excessive buying or stockpiling materials at home, and that the state is able to meet the needs of all citizens and residents efficiently and sustainably.
The Ministry affirmed that the price control system is effective and active, as the Ministry, in cooperation with all relevant federal and local authorities in the country, continues to conduct periodic inspection tours of sales outlets to control any attempts to raise prices without justification, combat any monopolistic practices, and ensure market stability, in accordance with the Consumer Protection Law, the approved pricing policy and regulatory decisions, and ensures a safe and stable commercial and consumer environment.
The Ministry explained that to report any observations related to prices or the availability of goods, please contact the official channels of the Ministry of Economy and Tourism: the website www.moec.gov.ae, the toll-free number 8001222, or the email info@economy.ae.