Placing a common competition system for the Gulf Cooperation Council (GCC) allows for honest commercial competition without the monopoly of products, said a Kuwaiti official late Tuesday. Director of Commercial Monitoring at the Kuwaiti Ministry of Commerce and Industry, Rashed Al-Hajri, was speaking to KUNA at the conclusion of the 10th meeting of the committee tasked with drafting the GCC commercial competition law, held at the GCC Secretariat headquarters in Riyadh and presided by Kuwait. Al-Hajri said that during the two-day meeting, the committee completed its discussion of all 31 articles of the draft law, which aimed at preventing abuse of commercial competition. He underscored the importance of this law for all GCC states, which enjoyed free economies, adding that it would provide a suitable, competitive climate for companies operating in the Gulf region. Moreover, he said the Kuwaiti Cabinet had approved the state"s commercial competition law, which contributed to the increase of commercial activity in the country and prevented monopolies. The recommendations of the committee will be referred to the GCC commercial and industry undersecretaries, in their next meeting, he added.
