Baghdad – IA – Wissam Al-Mulla
The head of the Saudi General Authority for Competition, Fahd bin Ibrahim Al-Shatari, confirmed today, Thursday, that the kingdom of saudi Arabia supports Iraq’s efforts to enrich competition laws and prevent monopoly.
Al-Shutari said in a speech via closed-circuit television during the First International Competition Conference – attended by the (INA) correspondent: “We extend our thanks to the Council for Competition and Monopoly Affairs in Iraq for hosting the first annual competition conference and for its efforts in developing laws and cooperating with Arab competition and advancement bodies.” At its level, keeping pace with events, increasing competition with Arab countries, combating monopoly, and creating an habitat supportive of the Arab economy.”
He added, “We also thank the Competition Council in its capacity as head of a working group for institutional efficiency, one of the working groups of the Arab Competition Network emanating from the Economic and Social Council of the League of Arab States, which was launched in 2021, due to the complete professionalism shown by the leadership and team of the Iraqi Competition Council in the readiness, implementation, and completion of 6 workshops.” “Work during the year 2024 is concerned with enhancing institutional efficiency in Arab competition bodies.”
He stressed, “The Kingdom of Saudi Arabia always seeks to consolidate Arab cooperation through its ongoing efforts in various political, economic and social fields and welcomes the efforts of the sister State of Iraq to enrich competition laws and prevent monopoly.”
– How does collaboration among Arab nations contribute to the effectiveness of competition laws as discussed in the interview?
Interview: Enhancing Competition Laws in Iraq – Insights from Fahd bin ibrahim Al-Shatari
Time.news Editor: Today, we have the opportunity to speak with Fahd bin Ibrahim Al-Shatari, the Head of the Saudi general Authority for Competition, who recently addressed the First International Competition Conference. Mr. Al-Shatari, welcome! Let’s discuss Saudi Arabia’s commitment to supporting Iraq’s efforts in enriching its competition laws and preventing monopolies.
Q: Mr. Al-Shatari, you highlighted the importance of competition laws during yoru recent speech. Can you explain why these laws are vital for Iraq’s economy?
A: Certainly. Competition laws are essential for fostering a fair market surroundings. they prevent monopolistic practices, which can hinder economic growth and innovation. By enriching these laws,Iraq can enhance its economic competitiveness on a regional scale,ensuring that all businesses have a fair chance to thrive. This is not just beneficial for Iraq but for the entire Arab economy as well.
Q: You mentioned the collaboration between Iraq and Arabian competition bodies. How does this collaboration support institutional efficiency?
A: Our collaboration aims to enhance institutional efficiency within competition authorities across Arab countries.The Iraqi Competition Council has shown impressive professionalism in organizing workshops and fostering cooperation. This type of synergy enables us to share best practices, strategies, and insights that boost our collective capacity to combat monopoly and support market fairness across borders.
Q: What do you see as the most meaningful challenges Iraq faces in implementing these enriched competition laws?
A: One of the primary challenges is raising awareness about the benefits of competition laws among businesses and consumers. Many stakeholders may not fully understand how these laws can protect them and promote innovation. Additionally, establishing robust enforcement mechanisms will be crucial in ensuring these laws have their desired effect. Ongoing training and capacity-building initiatives for officials and business leaders will be essential.
Q: With your acknowledgment of Iraq’s efforts, what practical advice can you offer to other Arab nations looking to enhance their competition laws?
A: I would advise other nations to prioritize dialog and cooperation among themselves. Establishing working groups, similar to those within the Arab Competition Network, can facilitate knowledge sharing. Additionally, investing in training for competition authorities ensures officials are well-equipped to enforce laws effectively. Ultimately, strong legal frameworks paired with effective enforcement will cultivate a vibrant marketplace.
Q: how do you envision the future of competition in Arab markets, particularly in iraq, over the next few years?
A: I am hopeful that with strengthened collaboration and enriched competition laws, we will see more vibrant and innovative markets in Iraq and the wider Arab region. We expect that these efforts will encourage new investments,empower entrepreneurs,and elevate consumer choices. As we navigate the economic landscape together, our collective commitment to fair competition will be paramount in driving sustainable growth.
Time.news Editor: Thank you, Mr. Al-Shatari, for sharing your valuable insights. Your expertise sheds light on the importance of competition laws and the collaborative efforts within the Arab world to ensure fair and open markets.