H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai chaired the Cabinet meeting today at the Presidential Palace in presence of H.H Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior and H.H Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs.

The meeting discussed recommendations by the Federal National Council (FNC) on the phenomenon of high prices and on the policy of the Ministry of Culture, Youth and Community Development.

The cabinet has approved the ratification of the Revised Kyoto Convention in order to simplify and coordinate customs procedures prepared by the World Customs Organization (WCO).

The International Convention on the Simplification and Harmonization of Customs procedures (Kyoto Convention) entered into force in 1974 and was revised and updated to ensure that it meets the current demands of governments and international trade.

RKC was adopted by WCO in June 1999 as the blueprint for modern and efficient Customs procedures in the 21st century to provide international commerce with the predictability and efficiency that modern trade requires. The Revised Kyoto Convention elaborates several key governing principles. RKC was ratified by 64 countries.

The cabinet also approved the Marriage Fund's closing accounts for the fiscal year ending in December 31st, 2008. It also approved the closing accounts of Emirates Marketing '&' Promotions (EMP) for the fiscal year ending in December 31st, 2008.