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)