Government

In a move that reinforces regional economic cooperation and fair market practices, the UAE Ministry of Economy has signed a Memorandum of Understanding (MoU) with the Egyptian Competition Authority (ECA) to advance joint efforts in protecting competition and combating monopolistic behavior.

The agreement was formalized on the sidelines of ECA’s annual conference in Egypt, with H.E. Safeya Hashem Al-Safi, Assistant Undersecretary for the Commercial Control and Governance Sector at the UAE Ministry of Economy, and Dr. Mahmoud Momtaz, Head of ECA, representing the two parties.

H.E. Safeya highlighted the MoU as a strategic step in deepening international partnerships, stating:

“This MoU reflects our commitment to fostering competitive markets and enhancing transparency. Our collaboration with ECA is instrumental in reinforcing investor confidence and serving consumers’ interests in both nations.”

The four-year agreement—automatically renewable—establishes a framework for:

• Exchange of expertise and best practices

• Joint training programs and workshops

• Sharing of information, studies, and investigative procedures

• Enhanced capacity in handling economic concentration and anti-competitive violations

Importantly, both parties will also benefit from the UNCTAD Regional Competition Training Centre in Cairo, a vital resource for building institutional capacity in the Middle East and Africa.

The MoU aligns with broader economic strategies, including the ‘We the UAE 2031’ vision aimed at building an open, globally competitive economy, and Egypt Vision 2030, which seeks to develop a knowledge-based, diversified market. It also supports ongoing efforts to strengthen Arab economic integration through fair competition frameworks.

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