Beneath the shimmering skyline of Riyadh, a landmark moment in global economic policy was taking shape. The General Authority for Competition (GAC) of Saudi Arabia made a significant impact at the 22nd Expert Group Meeting on Competition Law and Policy, organized by the United Nations Conference on Trade and Development (UNCTAD) in Geneva.
Held from July 3-6, 2024, the event brought together leading competition experts from around the globe. Central to the discussions were critical issues including the dynamics of food and digital markets, and the diverse experiences of nations in fostering competitive environments.
A key focus was the importance of stringent enforcement of competition laws to alleviate poverty and curtail monopolistic practices that restrict access to essential goods. The discussions underscored the necessity for equitable market conditions to ensure that affordable goods are accessible to all societal segments.
Adding a unique perspective, the GAC delegation presented a compelling visual showcase of Saudi Arabia’s leadership of the Arab Competition Network. The presentation detailed a progressive development plan aimed at enhancing cooperation among competition authorities across the 18-member states of the Greater Arab Free Trade Area (GAFTA).
This significant contribution followed an important gathering hosted by the Eurasian Economic Commission, which united regional and international competition organizations to discuss specialized approaches and collaborative efforts in competition policy.
