Beirut, 13 December 2022--Competition encourages businesses to efficiently deliver goods and services to maintain a strong and competitive market position, driving prices down and quality up for the benefit of consumers. In order to develop effective competition laws and policies in Kuwait, a workshop kicked off today on "Promoting competition: Challenges and Ambition", organized by the United Nations Economic and Social Commission for Western Asia (ESCWA) and the Competition Protection Agency in Kuwait (CPA).
Over two days, participants from relevant ministries, business community, private sector, digital companies, and micro, small and medium enterprises (MSMEs) in Kuwait will discuss ways to develop effective competition and consumer protection laws and policies to improve the business environment, attract more investment, and enhance economic performance.
ESCWA Executive Secretary Rola Dashti stressed the importance of competition as one of the tools that the Kuwaiti Government can use to improve the entire economic growth and increase the productive efficiency, particularly after the quick growth of digital economy in the wake of COVID-19 and the new challenges that made it necessary to come up with innovative policies to create resilient economies. She added that ESCWA is seeking to emphasize the importance of implementing the Competition Law provisions in Kuwait in light of the significant benefits of competition to society, consumers and all economic actors.
The first day focuses on the agency’s role and overall strategy, and how other government actors can contribute to the protection and application of competition law. On the second day, participants will discuss more detailed topics such as competition and MSMEs, and the protection of competition in the digital economy.
For his part, Minister of Commerce and Industry in Kuwait Mazen Saad Ali Al Nahed noted that the event crowns cooperation and communication efforts with international and regional organizations, institutions, and competent counterparts, to exchange experiences, and support Kuwaiti institutions with leading global expertise and experience. It will also deepen scientific research in the field of competition. He also underscored the importance of competition protection agencies, as they play a vital role in the economy, which entails the enforcement of competition protection laws as a regulatory framework based on strong, effective and technical systems that address any practices harmful to competition.
Competition offers significant benefits to the national economy. It contributes to building effective markets, driving innovation and productivity, and achieving sustainable development. It also serves to achieve consumer welfare by protecting him from the abuse of market power and unfair business practices by producers and suppliers.
In his opening statement, CPA Kuwait Executive Director Abdullah Saleh Al-Owaisi stressed the keenness of the state of Kuwait and its institutions to build a strong economy by facilitating the business environment and creating a competitive and open market. He also highlighted the role of CPA in preventing the occurrence of any harmful practices to competition by proposing mechanisms, procedures and policies that can play a preventive role and create an effective competitive environment.
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About ESCWA
One of five United Nations regional commissions, ESCWA supports inclusive and sustainable economic and social development in Arab States, and works on enhancing regional integration.
For more information:
- Ms. Maryam Sleiman, Public Information Assistant, +961-81-769-888; email: sleiman2@un.org
- Ms. Rania Harb, Public Information Assistant, +961-70-008-879; email: harb1@un.org
