Qatar, Saudi Arabia Hold Meeting To Strengthen Cooperation In Competition Field

2024-12-13 04:39:22

(MENAFN- The Peninsula) The Peninsula

DOHA: The Ministry of Commerce and industry of Qatar recently hosted the first annual meeting with Saudi Arabia's General Authority for Competition (GAC). The meeting aimed to discuss strategies and advance collaboration in the competition field.

The Qatari delegation was led by Hassan bin Sultan Al Ghanim, Assistant Undersecretary for Consumer Affairs at the Ministry of Commerce and Industry, while the Saudi delegation was headed by Abdulaziz bin Mohammed bin Obaid, Deputy CEO for legal Affairs at the General Authority for Competition.

The agenda focused on reviewing the implementation of a recently signed Memorandum of Understanding (MoU), which marks a pioneering step at the regional level. This MoU seeks to strengthen ties and launch mutual projects and initiatives aligning with the shared economic goals of Qatar and Saudi Arabia, as envisioned in their respective 2030 strategies.

Discussions highlighted the importance of implementing the MoU's executive program, drawing on the expertise of both parties in enforcing competition laws, combating monopolistic practices, and increasing awareness of compliance requirements. The meeting also emphasized promoting a culture of competition by involving the private sector to enhance understanding of regulations and maintain strong standings in global competition and anti-monopoly indexes.

The two sides explored ways to deepen integration and bilateral collaboration. They recommended building national capacities through joint training programs and workshops to foster shared knowledge and expertise. The meeting featured presentations showcasing the impact of the initiatives taken by the competition authorities on sectors, economic activities and the consumer in both countries.

The event witnessed wide participation from officials and competition experts from both countries meeting concluded with an agreement to form a joint working team to oversee the implementation of upcoming projects and initiatives. It also recommended launching joint training sessions and workshops to exchange experiences and build capacities in this field.

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