New Delhi: The Union Cabinet chaired by Prime Minister Narendra Modi today approved the signing of a Memorandum of Understanding (MoU) between the Competition Commission of India (CCI) and the Egyptian Competition Authority (ECA).
Implementation strategy and goals:
The MoU envisages the promotion and strengthening of competition law and policy cooperation through the exchange of information, sharing of best practices, and various capacity building initiatives. The MoU also aims to develop and strengthen relations between CCI and ECA, and to learn from each other’s experiences through experience sharing and technical cooperation, and enforcement of competition law in their respective jurisdictions.
Effect:
The MoU, through the exchange of enforcement initiatives, would allow the CCI to emulate and learn from the experiences and lessons learned by the Egyptian Competition Authority, which would help improve the CCI’s implementation of the 2002 Competition Law. The resulting outcomes benefit a wider range of consumers and promote equity and inclusion.
Background:
Section 18 of the Competition Act, 2002 enables the CCI to enter into any agreement or arrangement with any agency of any foreign country for the purpose of carrying out its duties or functions under the Act. Accordingly, this proposal refers to the signing of a memorandum of understanding between CCI and EGA.
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