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    Kuwait calls for greater role to boost competition

08:41 25 May 2022 Author :  

Chairman of Kuwait’s Competition Protection Agency (CPA) welcomed the third Arab Competition Forum as an important platform for promotion of cooperation among the relevant authorities in the Arab region. The Forum, organized by the Economic and Social Commission for Western Asia (ESCWAS) in Oman, is a step towards improvement of economic growth and good governance, Dr Rashid Al-Ajmi said in a speech to the opening session of the event on Tuesday. “Competition plays a great role in catalyzing economic growth amid the current challenging conditions and the negative impacts of the coronavirus (COVID-19) pandemic,” he pointed out.

 Dr Ajmi stressed the need of regional economic integration to realize the goals of sustainable development, noting that the State of Kuwait gives high priority to “the national policy of protection.” “This policy is a national development project which aims to upgrade the rules and procedures related to protection of competition, facilitate orderly investment and prevent fraudulent behavior,” he explained. On behalf of Kuwait, Dr Ajmi expressed gratitude to Oman and ESCWAS for holding the Forum and providing an opportunity for competition project agencies in the region to exchange expertise in this regard.

Dr Abdullah Al-Arisi, CEO of CPA, said Kuwait believes in the need of realizing regional economic integration and is keen on collaboration in all areas, particularly commerce, industry and investment. “Kuwait’s national plan aims to create the conditions conducive to free trade, sustainable development and activated competition which could lead to revived economic activities,” he affirmed. Meanwhile, Oman’s Minister of Commerce and Industry Qais Al-Yousef said the two-day event will build on the momentum of the first and second forums. Competition authorities, government officials, experts and academics, both from within and beyond the Arab region, are gathering to discuss the future of competition policy, he noted.

The Forum is being held in collaboration with the United Nations Conference on Trade and Development, the Organization for Economic Co-operation and Development, the International Trade Center, the League of Arab States and the Ministry of Commerce and Industry of Oman. The Forum, guided by international best practices, aims to collect concrete recommendations on future activities related to advancing and enforcing competition policy and thereby inform competition policymaking in the Arab region. —KUNA

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