May 18, 2023
2 mins read

Cabinet approves deal between CCI, Egyptian Competition Authority

The agreement, 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…reports Asian Lite News

The Union Cabinet on Wednesday approved the signing of memorandum of understanding (MoU) between the Competition Commission of India (CCI) and Egyptian Competition Authority (ECA). The Union Cabinet meeting was chaired by Prime Minister Narendra Modi.

According to a statement by the ministry of corporate affairs, the MoU envisages promotion and strengthening of cooperation in competition law and policy through exchange of information, and sharing of best practices as well as through various capacity-building initiatives. The MoU also aims to develop and strengthen linkages between CCI and ECA, and learn and emulate from each other’s experiences in the enforcement of competition law in their respective jurisdictions through experience sharing and technical cooperation.

The agreement, 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 enforcement of the Competition Act, 2002, by CCI, according to the ministry of corporate affairs. The resultant outcomes would benefit consumers at large and promote equity and inclusiveness.

The statement said, “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.”

Accordingly, the present proposal relates to signing of MoU between CCI and EGA.

Meanwhile, Indian Army Chief General Manoj Pande and his Egyptian counterpart Lt General Osama Ahmed Roshdy Abdullah Askar on Tuesday discussed ways to strengthen India-Egypt bilateral defence cooperation.

During the interaction, a book “Indian Army in Egypt” was also released to commemorate the service and sacrifice of Indian soldiers in Egypt.

The Indian army chief also interacted with the Egyptian Chief of Operations Lt General Ahmed F Khalifa.

Manoj Pande was on a three-day visit to Egypt to enhance bilateral defence cooperation and strengthen ties in areas of mutual interest of both countries.

India and Egypt celebrated 75 years of establishment of diplomatic relations this year.

India and Egypt enjoy warm and friendly relations marked by civilizational, cultural and economic linkages and deep-rooted people-to-people ties. The multifaceted relationship is based on shared cultural values, commitment to foster economic growth, collaboration in the fields of defence and security and convergence on regional and global issues. The two countries work closely at multilateral and international platforms.

Most of the current defence cooperation between India and Egypt is determined by Joint Defence Committee (JDC) activities. JDC meetings have been held alternately in either country, followed by exchange activities. In addition, several courses, exercises, ship transits, aircraft transits and defence exhibitions also contribute to defence cooperation between India and Egypt. (ANI)

ALSO READ: Jammu police issues advisory ahead of G20 meet

Previous Story

Partnership with India key to tackle China challenge: US

Next Story

G20 Summit in Kashmir set to give massive fillip to tourism sector

Latest from Arab News

US committed great crime: Iran

Iran has now called for an emergency meeting of the UN Security Council and demanded the IAEA Board of Governors address the situation….reports Asian Lite News Iran has strongly condemned the United

Strike Iran, Face Us, Houthis warn US

The Yemen-based Houthi group, which controls much of northern Yemen, has been targeting Israel since November 2023…reports Asian Lite News Yemen’s Houthi group issued a stark warning on Sunday, declaring they would

Tehran Hits Back After US Strikes

The missiles struck several locations across central Israel. Notably, one hit Haifa without any prior warning sirens, raising alarm over possible gaps in the missile alert system….reports Asian Lite News Iran fired

Trump Dares Iran Again

This comes as Trump announced that America had bombed three nuclear sites in Iran and warned Tehran of further precision strikes…reports Asian Lite News US President Donald Trump declared that no other
Go toTop

Don't Miss

UK Home Secretary objects to increasing visas for Indians

Braverman said that “I have concerns about having an open

BRICS NSA meet to be held on August 24: MEA

Earlier the 6th meeting of the BRICS Counter Terrorism Working