Just change this:

<xsl:element name="{name()}" namespace="{namespace-uri()}">

to compute the namespace URI that's needed, e.g.

<xsl:element name="{name()}"
namespace="urn:NewBusiness_{../productCode}">

__________________
Michael Kay
http://www.saxonica.com/
Author, XSLT 2.0 and XPath 2.0 Programmer\'s Reference