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Voluntary Peer Review of Competition Law and Policy - Egypt
UNCTAD Voluntary Peer Reviews on Competition Law and Policy have been facilitated by UNCTAD since 2005 promoting the exchange of experience and knowledge between advanced and less experienced Competition Authorities and fostering international cooperation. These exercises are one of the technical cooperation products of UNCTAD in the field of competition law and policy being included in the UNCTAD Toolbox (2020). The voluntary peer review on competition law and policy of Egypt is the second of an Arab member State (the first one was Tunisia in 2006). The scope of this exercise is focused on the substantive provisions of Egyptian competition law and enforcement practices of the Egypt Competition Authority (ECA) as well as ECA’s international cooperation and the gathering of the necessary information and testimonials which is currently underway. It will contribute to the improvement of Egypt’s legal and institutional framework law enforcement and cooperation on competition law and policy between relevant stakeholders.
Evolution of Egyptian competition law
ECL was promulgated on 15 February 2005. Article 4 of its preamble stated that it would be enacted 3 months later on 16 May 2005. It came into force with the enactment of ECLER on 18 August 2005 and subsequently the appointment of ECA’s Board of Directors on 24 August 2005. This was followed by the hiring of technical staff which took place from that date until early 2006.
Recommendations
UN Trade and Development (UNCTAD) voluntary peer review of competition law and policy of Egypt recommends among others: 1) substantial amendments and updates to the provisions in ECL and ECLER; 2) ECA is advised to publish merger guidelines and soft laws given its sole jurisdiction over all competition matters in all sectors and to cooperate in a more formal manner with Central Bank of Egypt and Financial Regulatory Authority; and 3) ECL and ECA need to be revised to give ECA overall more authority and independence to enhance efficiency and ensure more effective law enforcement. In this way the legal and institutional frameworks for competition law in Egypt could be strengthened.
Legal framework
ECL prohibits certain horizontal agreements anti-competitive vertical agreements abuse of dominant position and economic concentrations that substantially restrict lessen or harm the freedom of competition. However several issues have emerged from this legal framework and it does not adequately cover exploitative abuses or digital market issues. Debate also arises from competition jurisdiction in the telecommunications sector stemming from the anti-trust and merger control powers of the Central Bank of Egypt (CBE) and the Financial Regulatory Authority (FRA). This necessitates a comparison to international best practices which could offer useful recommendations for reformation.
Acknowledgements
Voluntary peer reviews of competition law and policy of United Nations Conference on Trade and Development (UNCTAD) are conducted at annual meetings of the Intergovernmental Group of Experts on Competition Law and Policy or at five-yearly United Nations Conference to Review All Aspects of the Set of Multilaterally Agreed Equitable Principles and Rules for the Control of Restrictive Business Practices.
Institutional design
The ECA is the sole governmental institution responsible for applying ECL. However in its application challenges arise in enforcement structures and practices including fines calculation imposition of administrative monetary sanctions and binding remedies limiting its effectiveness. Regarding the institution itself ECA’s lack of independence budget and staffing issues could impact its operational capacity. ECA’s private enforcement of competition laws is also underdeveloped which limit the effectiveness of compensating victims of anti-competitive practices.
Foundation and history
Over the past few decades the Egyptian economic system has undergone significant changes transitioning from protectionism in the 1950s to an open-door policy in the late 1960s. The Egyptian Competition Law (ECL) was eventually enacted in 2005 aiming to regulate economic activities and prevent anti-competitive practices. Subsequent amendments in 2008 2014 and 2022 introduced merger control regimes a leniency program and enhanced the Egyptian Competition Authority (ECA)’s independence. ECL is enforced through a criminal enforcement model with a dual-tier system: ECA makes administrative decisions while the judiciary imposes fines on cases brought by the public prosecution.
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