The UAE joins the international network of competition

Abu Dhabi, 6 November / WAM / The United Arab Emirates, represented by the Ministry of Economy and Tourism, has joined the International Competition Network, with the aim of enhancing integration into the global competition system and benefiting from the latest experiences and advanced practices in its policies and enforcement.

This step reflects the leading position that the country has reached in enhancing regional and international cooperation in the field of competition and establishing effective partnerships with global economic organizations to enhance market governance and prevent monopolistic practices, especially since the network includes 140 authorities and regulatory bodies around the world.

The UAE’s accession to the network comes as an extension of the national efforts to develop the system of legislation and policies related to protecting and regulating competition, as work was done to issue Federal Decree Law No. 36 of 2023 regarding regulating competition, which provided a proactive and flexible framework to ensure fair markets and prevent monopolistic practices, as well as the Cabinet’s decision regarding the ratios and controls related to the application of the competition regulation law.

Her Excellency Safia Al Safi, Assistant Undersecretary for the Commercial Control and Governance Sector at the Ministry of Economy and Tourism, confirmed that the UAE’s accession to the International Competition Network constitutes an important step that reflects the Ministry’s commitment to promoting the principles of transparency, fairness and competitiveness in the national economy.

She said that the Ministry is keen to enhance international cooperation, exchange experiences, and apply the best global practices in implementing competition legislation, in line with the country’s vision of building a fair business environment that stimulates innovation and sustainable growth, and that it will continue to develop its supervisory and regulatory tools to ensure the protection of healthy competition that supports companies, benefits consumers, and consolidates the UAE’s position as a global center for trade and investment.

She pointed out that this accession strengthens the UAE’s presence within the system of international economic cooperation and communication by working with regional and global competition networks, which enhances the exchange of experiences and contributes to the development of regulatory frameworks more consistent with international standards. It also consolidates the country’s position as a main destination for shaping the future of global competition policies, and confirms its leadership in building an integrated economic model based on governance, innovation and sustainability.

This accession supports the state’s efforts to build a more competitive economy based on innovation and productivity, by empowering small and medium-sized companies, attracting quality investments, and stimulating fair competition that enhances the quality of products and services, and contributes to protecting the consumer and expanding his options.

This is expected to contribute to raising the efficiency of national markets and enhancing their ability to confront anti-competitive practices, thus supporting the stability of the business environment and driving sustainable economic growth.

The International Competition Network is a global platform for coordinating policies and exchanging experiences between competition authorities in various countries. It provides broad opportunities to develop institutional and technical capabilities, and participate in working groups concerned with specialized topics including monitoring mergers, abuse of market power, blocs that restrict competition, and raising awareness of the importance of fair market policies.

Through this membership, the Ministry of Economy and Tourism will strengthen its partnerships with the most prominent international bodies, allowing for the exchange of knowledge and the development of national competencies through training and technical cooperation programs that contribute to enhancing the country’s readiness in the field of market governance.

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