The United Arab Emirates, represented by the Ministry of Economy and Tourism, has officially joined the International Competition Network. This decision aims to strengthen its involvement in the global competition framework and to leverage contemporary insights and practices in policy-making and enforcement.
This initiative underscores the leading role the UAE has attained in fostering regional and international collaboration in the sphere of competition. Additionally, it aims to establish meaningful partnerships with global economic organizations to enhance market governance and prevent monopolistic practices, especially as the network comprises 140 regulatory authorities worldwide.
The UAE’s accession to the network is a continuation of the nation’s efforts to refine its legislative and policy frameworks pertaining to competition protection and regulation. This includes the issuance of Federal Decree Law No. 36 of 2023 on regulating competition, which provides a proactive and flexible framework to ensure market fairness and curb monopolistic activities, along with the Cabinet’s decision regarding the ratios and controls related to the application of the competition regulation law.
Saffia Al-Safi, the Assistant Undersecretary for Commercial Control and Governance at the Ministry of Economy and Tourism, emphasized that joining the International Competition Network is a significant step reflecting the ministry’s commitment to promoting principles of transparency, fairness, and competitiveness within the national economy.
She stated that the ministry is dedicated to fostering international cooperation, sharing expertise, and applying global best practices in competition law enforcement, in line with the nation’s vision to create an equitable business environment that encourages innovation and sustainable growth. The ministry will continue to enhance its regulatory and monitoring tools to ensure a healthy competitive landscape that benefits both firms and consumers, solidifying the UAE’s status as a global trade and investment hub.
This membership reinforces the UAE’s presence within the framework of international economic cooperation by engaging with regional and global competition networks, fostering knowledge exchange, and contributing to the development of regulatory frameworks more aligned with international standards. It also positions the nation as a key player in shaping the future of global competition policy, confirming its leadership in establishing an integrated economic model grounded in governance, innovation, and sustainability.
This partnership supports the country’s drive toward building a more competitive economy founded on innovation and productivity, enabling small and medium enterprises, attracting high-quality investments, and promoting fair competition that enhances the quality of products and services, protects consumer rights, and expands options available to them.
Expectations are that this engagement will improve the efficiency of national markets and bolster their resilience against anti-competitive practices, thus supporting the stability of the business environment and propelling sustainable economic growth.
The International Competition Network serves as a global platform for coordinating policies and exchanging experiences among competition authorities in various nations. It offers extensive opportunities for institutional and technical capacity development and participation in working groups focused on specialized subjects, including merger monitoring, abuse of market power, anti-competitive conglomerates, and raising awareness about the importance of fair market policies.
Through this membership, the Ministry of Economy and Tourism will enhance its partnerships with key international bodies, facilitating knowledge exchange and the development of national competencies through training programs and technical cooperation, thereby boosting the country’s readiness in the realm of market governance.