Page 470 - MOE ENGLISH PR REPORT

Page 470 - MOE ENGLISH PR REPORT - MAY 2025 ( Part 2)

P. 470

5/22/25, 2:21 PM Ministry of Economy signs MoU with Egyptian Competition Authority
H.E. Safeya said that the signing of the MoU reflects the Ministry of Economy's commitment to
expanding its regional and international partnerships in the field of competition, adding that cooperation
with ECA will support efforts to achieve more market transparency, enhance investor confidence, and
serve the interests of consumers in both countries.

The Assistant Undersecretary explained that the agreement is an effective framework for enhancing
institutional cooperation between the two sides in the field of competition protection. It contributes to the
development of relevant policies and procedures, positively impacting the business environment in both
countries and empowering businesses to address monopolistic practices, as well as supporting efforts

for sustainable economic development.

The MoU, which spans four years and is automatically renewable, stipulates cooperation on several
fronts, including the exchange of experiences, knowledge, and best practices, the organization of
training programs and joint workshops, as well as the exchange of information and specialized studies.
Additionally, it aims to enhance capabilities in the areas of examining economic concentration processes

and investigating violations. The MoU also allows both parties to benefit from the United Nations
Conference on Trade and Development (UNCTAD) centre for competition training for the Middle East
and Africa region, based in Cairo.

The MoU falls within the framework of the growing relations between the UAE and Egypt, and supports

joint efforts to enhance Arab economic integration, in line with the ‘We the UAE 2031’ vision aimed at
building a competitive, open, and sustainable economy, and Egypt Vision 2030, which seeks to establish
a competitive and diversified knowledge-based economy.