Cabinet approves signing of MoU between Competition Commission of India and Egyptian Competition Authority
New Delhi: The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the signing of the Memorandum of Understanding (MoU) between the Competition Commission of India (CCI) and the Egyptian Competition Authority (ECA).
The MoU envisages the promotion and strengthening of cooperation in competition law and policy through the exchange of information, sharing of best practices as well as through various capacity-building initiatives, an official statement said.
It also aims to develop and strengthen linkages between CCI and ECA and learn and emulate each other's experiences in the enforcement of competition law in their respective jurisdictions through experience sharing and technical cooperation.
The MoU, through the exchange of enforcement initiatives, would enable CCI to emulate and learn from the experience and lessons of its counterpart competition agency in Egypt which would help improve the enforcement of the Competition Act, 2002 by CCI.
The resultant outcomes would benefit consumers at large and promote equity and inclusiveness.
Section 18 of the Competition Act, 2002 permits CCI to enter into any memorandum or arrangement with any agency of any foreign country for the purpose of discharging its duties or performing its functions under the Act,the statement said.
Accordingly, the present proposal relates to the signing of the MoU between CCI and EGA.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.