Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Egypt, Nigeria Discuss Ways to Combat Monopolistic Practices


Thu 19 Aug 2021 | 12:34 AM
Taarek Refaat

Mahmoud Momtaz, head of Egypt’s Competition Protection and Monopolistic Practices Prevention Authority discussed with Babatunde Irukera, the Director General of the Federal Competition and Consumer Protection Commission (FCCPC) in Nigeria, ways to enhance joint African action through bilateral cooperation agreements and joint economic blocs.

Momtaz reviewed, during the meeting on Wednesday, the work strategy of the Egyptian Authority to establish and implement the rules of free competition, strengthening competition policies, and combating monopolistic practices.

Irukera was briefed on the guide lines of the provisions of the law, which the Authority is working on updating; to create awareness of the rules of free competition and spread a clear understanding of the provisions stipulated by law, helping all investors engaged in economic activity in the Egyptian market to comply with the competition law.

It is worth noting that the two parties agreed to set a general framework for bilateral cooperation, which includes a memorandum of understanding (MoU) to exchange information, specialized studies, exchanging expertise in the field of competition protection law enforcement, and to provide support and technical assistance to combat vertical and horizontal agreements harmful to competition and related issues.