The United Arab Emirates has signed the instrument of accession to the Madrid Protocol, which will enter into force on December 28, 2021. With the addition of this country, there are now 125 members of the Madrid System, three of which are members of the Cooperation Council for the Arab States of the Gulf. Oman and Bahrain were already members of the system.
This Persian Gulf country is one of the richest countries in the world and ranks among the top five in terms of per capita income. Wealth is concentrated primarily in the two largest emirates, Dubai (the most cosmopolitan) and Abu Dhabi (the most conservative and the country’s capital), and is based mainly on oil and natural gas production, although tourism, the financial and real estate sectors, and construction have become increasingly important in recent years. It plays a key and strategic role in Middle Eastern and global diplomacy and is one of the main gateways to Asia.
Its stability and wealth make it attractive to foreign investment and international trade, with the luxury market proving to be particularly significant.
One of the obstacles posed by the domestic route for trademark protection in the United Arab Emirates is the high cost of local legal services and official fees, which are extremely high in some cases. The fee for international applications in the United Arab Emirates is still unknown, and it is almost certain that the country has reserved the right to charge a separate fee; however, joining the international system will likely offer trademark owners a cost advantage when protecting their trademarks.
Author: Cristina Arroyo