His Excellency Dr. Abdulaziz bin Abdullah Al Zum, Director General of the General Directorate of Competition, and Dr. Mahmoud Mumtaz, Head of the Egyptian Competition Authority and Antitrust Practice, signed today in Cairo a memorandum of understanding with the aim of establishing a framework for cooperation in areas related to with the promotion of competition and antitrust laws, in the presence of the Chairman of the Council of Ministers, the Minister of Egypt, Dr. Mostafa Madbouli, and the Ambassador of the Custodian of the Two Holy Mosques to Egypt, Osama bin Ahmed Nakli. After the signing, Dr. Al-Zumm indicated that the memorandum of understanding includes areas for cooperation and exchange of advice and experience through mutual visits to the headquarters of the competition authorities of the two countries, as well as through official electronic communication channels and other means. communication between experts and technical specialists of the two sides on issues of mutual interest.
His Excellency noted that the memorandum fits into the framework of existing relations between the two countries and is aimed at building bridges for effective cooperation between them. To keep up with the major events taking place in the economies of the two countries, especially since they are considered the largest in the Middle East.
For his part, Dr. Mahmoud Mumtaz explained that the MoU focuses on a number of areas of cooperation, which include the exchange of information and experience in the field of promoting competition and preventing monopolistic practices in a way that facilitates and improves the performance of the functions of both parties, especially in regarding the role of competitive governance and how to establish policies that increase competition in markets. The two countries, in addition to organizing conferences, visits and training courses in the field of competition protection and its rules, laws and policies, and the exchange of experience regarding investigations and procedures for investigating violations of competition laws and regulations.
