The General Authority for Competition (GAC) recently participated in the 22nd Group Expert Meeting on Competition Law and Policy organized by the United Nations Conference on Trade and Development (UNCTAD) in Geneva, Switzerland. Held from July 3-6, 2024, the meetings brought together competition experts from around the world to discuss important topics such as food markets, digital markets, and experiences of different nations in promoting competition within these sectors. The experts emphasized the importance of robust enforcement of competition laws and policies in reducing poverty and addressing the behavior of monopolistic entities that may hinder access to affordable goods for certain segments of society.
During the event, the GAC delegation presented a visual showcasing Saudi Arabia’s presidency of the Arab Competition Network and the network’s development plan. The Arab Competition Network consists of 18 Arab countries that are members of the Greater Arab Free Trade Area (GAFTA). The aim of the network’s development plan is to encourage collaboration among competition agencies in the Arab world. This presentation took place alongside a meeting hosted by the Eurasian Economic Commission, which brought together specialized regional competition organizations and seven international competition organizations.
The importance of collaboration among competition agencies at both regional and international levels was a key theme at the 22nd Group Expert Meeting on Competition Law and Policy. The GAC delegation highlighted Saudi Arabia’s efforts in promoting competition within the Arab world and its commitment to working with other countries to ensure fair market practices. By participating in such events and sharing best practices, the GAC aims to contribute to the global dialogue on competition policy and help create a level playing field for businesses and consumers.
The GAC delegation’s participation in the UNCTAD meeting is part of Saudi Arabia’s ongoing efforts to enhance its competition policy framework and promote fair market practices. By engaging with international experts and sharing insights from their experiences, the GAC aims to strengthen its own enforcement mechanisms and better protect consumers from anti-competitive behavior. The delegation’s presentation on Saudi Arabia’s presidency of the Arab Competition Network demonstrates the country’s leadership in fostering cooperation among Arab nations in promoting competition and economic growth.
Overall, the 22nd Group Expert Meeting on Competition Law and Policy provided a valuable platform for the GAC delegation to engage with international counterparts, share best practices, and contribute to the global dialogue on competition policy. By participating in such events, the GAC is able to enhance its own enforcement mechanisms, promote fair market practices, and protect consumers from anti-competitive behavior. Saudi Arabia’s presidency of the Arab Competition Network highlights the country’s commitment to fostering collaboration among Arab countries and promoting competition within the region. Through such initiatives, Saudi Arabia aims to create a more competitive and vibrant market environment that benefits businesses and consumers alike.
