The Competition Protection and Prevention of Monopolistic Practices Authority and the South African Competition Commission signed a memorandum of understanding in the field of competition protection and anti-monopoly practises to strengthen technical cooperation and information exchange on relevant competition laws and policies.
Dr. on the Egyptian side signed it.
In the presence of Ahmed Al-Fadhli, Egypt’s ambassador to South Africa, Mahmoud Mumtaz, head of the Competition Protection Authority and the Prevention of Monopolistic Practices, and Timbinkosi Bonakili, chairman of the Competition Commission, on behalf of the South African state.
The agency stated in a press release today, Wednesday, that the memorandum of understanding is intended to strengthen cooperation between the two agencies in the field of competition protection by leveraging the two parties’ experiences in increasing worker efficiency, exchanging information and specialised studies, and discussing issues of mutual interest, explaining that the Agreeing to form working groups to conduct joint studies on topics of mutual interest
The South African Competition Commission, according to Mahmoud Mumtaz, is one of the largest agencies on the African continent, emphasising the Egyptian Competition Authority’s eagerness to cooperate with competition authorities in African countries and promote joint African action, whether through bilateral cooperation agreements or joint economic blocs and groupings. should work together to combat any monopolistic actions at the continental level
He explained that this is part of the Authority’s work strategy 2021-2025, which includes collaborating with counterpart competition authorities to benefit from their expertise and achieve African integration in the field of competition protection for the benefit of the citizens of the two countries.
According to Bonakelli, the Egyptian Competition Authority is one of Africa’s oldest and most renowned competition bodies.
on the cooperation of the public and private sectors
He stated that the agreement of understanding will strengthen technical collaboration between the two parties, expanding on efforts such as the conversation of competition authority chiefs on digital markets.
It is worth noting that Dr.
Mahmoud Mumtaz is attending the South African Competition Commission’s 16th Annual Conference on Competition Policies and Economics, which is being held in Sandton, Johannesburg, with the attendance and participation of more than 30 countries, representatives of a number of major economic bodies and blocs, and international competition experts.
Mumtaz talked at the conference about the role of competition protection authorities in dealing with the worldwide food crisis caused by the Corona virus and the Russian-Ukrainian war. Africa slowly.
Mumtaz met with a number of chiefs of competition authorities from Africa and other nations in a number of bilateral sessions.
Egypt and South Africa have signed a memorandum of understanding to preserve competition and avoid monopolistic activities.
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