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Attended by Madbuly and Noqli.. GAC of Egypt and Saudi one sign a memorandum of understanding

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Ashraf AboArafe

His Excellency the CEO of the General Authority for Competition, Dr. Abdulaziz bin Abdullah Al-Zum, and the head of the Competition Protection and Anti-Monopolistic Practices Authority in Egypt, Dr. Mahmoud Mumtaz, signed today in Cairo a memorandum of understanding with the aim of creating a framework for cooperation in areas related to promoting competition and anti-monopoly, in the presence of the Egyptian Prime Minister, Dr. Mostafa Madbuly, Ambassador of the Custodian of the Two Holy Mosques to Egypt, Osama bin Ahmed Noqli.
After the signing, Dr. Al-Zumm indicated that the memorandum of understanding includes areas of cooperation and exchange of consultations and experiences through mutual visits to the headquarters of competition authorities in the two countries, as well as through official electronic communication channels and other means of communication between experts and technicians of the two parties on issues of common interest.
His Excellency noted that the memorandum comes within the framework of the existing relations between the two countries and to build bridges of effective cooperation between them. To keep pace with the major developments taking place in the economies of the two countries, especially as they are considered the largest in the Middle East.
For his part, Dr. Mahmoud Mumtaz explained that the memorandum of understanding focuses on a number of areas of cooperation that include exchanging information and experiences in the field of promoting competition and preventing monopolistic practices, in a way that facilitates and enhances the performance of the functions of both sides, especially with regard to the role of competitive guidance and how to set policies that enhance competition in markets. The two countries, in addition to organizing conferences, visits and training courses in the field of competition protection and its regulations, laws and policies, as well as exchanging experiences regarding investigation and investigation procedures for violations of competition laws and regulations.

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Transparency, my 🌉 to all..

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