Top 10 Stories From Our Archives
Middle East Regulators Collaborate With Specialty-Equipment Market
U.S. classic cars are an increasingly common sight in the United Arab Emirates (UAE). SEMA representatives pose here with UAE government officials, the U.S. Consul General and local specialty-equipment distributors around a fully restored '32 Ford. SEMA was in Dubai to sign an MOU with the UAE government to assist in the development of the local specialty-equipment market through industry-friendly regulations.
“ESMA considers the signing of this MoU with SEMA as the starting point for the mutual cooperation between ESMA and SEMA,” said Mr. Badri, ESMA director general.
“The purpose of this MoU is to establish a formal exchange of information between ESMA and SEMA to establish an ongoing dialogue as the UAE government seeks to develop a legal framework to support its fledgling specialty-equipment market.
Based on this MoU, SEMA could help ESMA and other related parties in UAE, nominated by ESMA, by transferring its long experience in the specialty-equipment market to UAE, providing the advice and technical support, conducting joint training courses and workshops in this field, responding to ESMA's requests for market data and information on trends and anticipated developments worldwide. This would allow ESMA to benefit from SEMA’s educational services, providing ESMA with all information about trademarks, patents and copyrights, beside links to portals of useful information, keeping ESMA updated with all relevant legislative issues that arise,” Badri added.
“SEMA has a tradition of bringing government and industry together to promote the legitimate growth of the marketplace,” said Linda Spencer, director of international relations for SEMA. “This is an important step in creating harmony between business and regulators. We applaud ESMA in this forward-looking effort,” she added.
In the coming months, ESMA and SEMA will collaborate on educational programs and support services for stakeholders to gain a better understanding of the customization industry. The goal is to create a regulatory framework, which will lead to heightened safety and environmental solutions by engaging business and government.
“Specialty-equipment products are an important element of our business here in the Emirates,” said Mitch Perera, sales and marketing manager of Liberty Motorsports. “This work is addressing our business and the interests of our customers.”