UAE’s Ministry of Economy and Egypt’s Competition Authority Sign Agreement to Work Together More Closely
The UAE’s Ministry of Economy has signed an agreement with the Egyptian Competition Authority (ECA) to support fair competition and stop monopoly practices in Egypt, according to a statement.
Fighting Monopolies in Egypt
The agreement is meant to help Egypt and the UAE work together to stop unfair business practices and support healthy competition. This will create a better business environment and help both countries grow their economies in a sustainable way.
The agreement will last four years and will automatically renew. It includes working together in many areas like sharing knowledge and experience, holding training programs and workshops, exchanging studies and information, and helping each other improve their skills and systems.
Both countries will also benefit from using the UN Competition Training Center for the Middle East and Africa, which is based in Cairo.
The agreement was signed during a conference in Egypt by Safia Hashem Al Safi, a UAE official, and Mahmoud Momtaz, head of the Egyptian Competition Authority.
Al Safi said that this partnership will help make markets more open and fair, build trust for investors, and protect consumers in both countries. She added that the agreement is a strong step toward improving teamwork in protecting competition.
She also said the agreement will help develop better policies and systems, make it easier to deal with monopolies, and support long-term economic growth.
Strong Business Ties
The UAE is Egypt’s second-biggest trading partner and the top international investor, according to the Egyptian Commercial Service.
In 2023, the UAE invested $9.6 billion in Egypt, with over 1,600 Emirati companies working in different industries there, according to data shared by WAM.
In February 2024, Egypt and the UAE signed a deal where the UAE will invest $35 billion to develop the Ras El-Hekma coastal area.
Published: 8th May 2025
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