“Economy and Tourism” enhances professional knowledge of competition law

The Ministry of Economy and Tourism organized a specialized workshop entitled “Competition Law Under the Microscope”, in cooperation with the “Covington & Burling” office and the “Al Tamimi & Partners” legal consulting office, with the aim of supporting and enhancing the professional knowledge of legal professionals and specialists in the country with the best applied practices of competition law, and enhancing awareness of the procedures related to economic concentrations and complaints mechanisms, which contributes to supporting a more competitive and attractive business environment for investment in the country.

The workshop came on the sidelines of the fourth session of Abu Dhabi Financial Week, with the participation of more than 170 lawyers, experts and specialists in legal and economic affairs, along with a group of regional and international bodies.

Assistant Undersecretary for Commercial Control and Governance Affairs at the Ministry of Economy and Tourism, Safia Al-Safi, said that the workshop comes within the framework of the Ministry’s efforts to develop the national competition system, which enhances the building of a transparent, more efficient and competitive business environment, enhances capabilities and develops a deeper professional awareness of the laws and procedures related to competition, in accordance with international best practices in enforcing competition laws.

She added that the Ministry is continuing its efforts aimed at developing policies and regulatory frameworks that promote fair competition and establish the principles of good governance in the country’s markets, pointing out that the topics that the workshop focused on include legislative and regulatory developments in competition law, oversight of economic concentrations, and mechanisms for dealing with complaints and anti-competitive practices.

For his part, Director of the Competition Department at the Ministry of Economy and Tourism, Muhammad Sultan Janahi, confirmed that the workshop gains special value because it is an initiative directed at the legal sector, as it provides a professional space that brings together lawyers and specialists to deepen the legal and applied understanding of competition law, and to cooperate with the relevant authorities from the government and private sectors in the country.

The workshop witnessed the holding of discussion sessions that highlighted recent developments in the competition system in the UAE, including modernizing the legal and executive framework, developing procedures for monitoring economic concentrations, unifying concepts related to notification limits, approval mechanisms, and compliance requirements in mergers and acquisitions, in addition to discussing the practical aspects related to complaints and anti-competitive behavior, and the role of law enforcement in protecting markets from unfair practices, and ensuring equal opportunities among establishments.