The Egyptian government emphasises regional cooperation in competition policies, a government minister said Tuesday.
Minister of Trade and Industry Nevine Gamea added that encouraging investments to control market mechanisms would also serve the common interests in the Arab region.
Minister Gamea made these statements in her video-conferenced address to the Second Competition Forum for the Arab Region.
The event, held in Beirut, was organised by the UN Economic and Social Commission for West Asia (UN-ESCWA), the UN Conference on Trade and Development (UNCTAD), the Organisation for Economic Co-operation and Development (OECD)
The OECD aims to help strengthen competition law and policy across the Arab region.
A large number of international organisations and Arab competition authorities are taking part in the event on .march 23-24.
Head of the Egyptian Competition Authority is representing his country at the conference.
Gamea referred to the hard times the global economy in countering the impact of the Covid-19 pandemic, which prompts joint efforts and an exchanging views and ideas among the Arab nations to meet challenges, while working harder to realise Arab integration in industry, trade and investment.
The aim is to explore a better future for the peoples in the Arab region, she said, referring to the Egyptian leadership’s interest in achieving regional integration as one of the major mechanisms of sustainable development in the Arab World.
According to the Egyptian Constitution, the economic system meets the criteria of transparency and governance, while encouraging investments and preventing monopolies, besides balancing market mechanisms and the interests of the various parties, the minister said.
This is embodied in Egypt’s long-term plan and Egypt Vision 2030 for achieving the sustainable development goals, she added.
Gamea voiced eagerness to enhance cooperation with the regional and international organisations such as the UN-ESCWA, the UNCTAD and the OECD for strengthening policies for protecting competition and exchanging expertise.
The goal of the Beirut gathering is to build on the momentum of the first competition forum, which was held in January 2020, and to develop a regional multi-stakeholder platform that facilitates the coordination and implementation of competition-related initiatives both at the national and regional level.
In addition, Arab countries are discussing their latest competition developments, reforms, and measures taken during the COVID-19 pandemic. Competition authorities from different parts of the world will also present best practices regarding institutional design, competition law and policy, and effective enforcement.
