The Strategic Role of the International Competition Network

The UAE, represented by the Ministry of Economy and Tourism, has joined the International Competition Network in a move that reflects its commitment to enhancing regional and international cooperation in this field. The network comprises 140 competition authorities and regulatory bodies from around the world, enabling the country to benefit from diverse experiences and expertise in competition policy and enforcement.

The Legal and Regulatory Framework in the UAE

The UAE’s accession to the International Competition Network is a natural progression of national efforts to strengthen legislation and policies related to competition protection and regulation. The Federal Decree-Law No. (36) of 2023 was issued to provide a flexible and effective framework to ensure market fairness and combat monopolistic practices. Additionally, the Cabinet decision outlines the ratios and controls related to the implementation of the Competition Regulation Law.

Statements from Officials and Their Implications

Safiya Al-Safi, Assistant Undersecretary for Commercial Control and Governance at the Ministry of Economy and Tourism, indicated that the UAE’s membership in the International Competition Network represents an important strategic step. She stated, “We are keen to enhance international cooperation and exchange experiences to implement the best global practices in competition legislation.” This commitment reflects the UAE’s desire to create a fair and stimulating business environment that encourages innovation and sustainable growth.

The Impact of Membership on the National Economy

This membership aims to support the country’s efforts in building a more competitive economy by empowering small and medium-sized enterprises and attracting quality investments. By encouraging fair competition, the quality of products and services can be enhanced, contributing to consumer protection and expanding choices. Furthermore, it is expected to improve the efficiency of national markets and enable them to confront unfair practices, thereby enhancing the stability of the business environment and promoting sustainable economic growth.

The Future of the UAE in the Field of Competition

The International Competition Network serves as a global platform for coordinating policies and exchanging experiences among competition authorities in various countries, providing extensive opportunities for institutional capacity development. Through this membership, the Ministry of Economy and Tourism will be able to strengthen its partnerships with international bodies, facilitating knowledge exchange and improving national competencies through training programs and technical cooperation, thus enhancing the country’s readiness in market governance.