Saudi GAC Participates in OECD Global Forum on Competition

The General Authority for Competition (GAC) of Saudi Arabia participated in the 2024 Global Forum on Competition, organized by the Organization for Economic Cooperation and Development (OECD) in Paris, with GAC Chief Executive Fahad Alshathri leading the Kingdom’s delegation to the high-level international gathering. The forum, held in December 2024, brought together competition officials from OECD member economies and non-member economies to address key topics on the global competition agenda, drawing experts, specialists, and heads of competition authorities from around the world.

On the sidelines of the forum, Alshathri, who also serves as chair of the Arab Competition Network, participated in an unofficial meeting for the Middle East and North Africa (MENA) region organized by the United Nations Economic and Social Commission for Western Asia (ESCWA), UN Trade and Development (UNCTAD), and the OECD. During this meeting, Alshathri presented the achievements of both the GAC and the Arab Competition Network, highlighting Saudi Arabia’s growing role in shaping regional and international competition policy.

Why does Saudi Arabia’s participation in such global forums matter for the future of international competition policy? The Kingdom’s active engagement reflects its commitment to fostering fair market practices, enhancing consumer protection, and promoting economic integration on a global scale.

Context and Background

The General Authority for Competition is Saudi Arabia’s primary regulatory body responsible for promoting and protecting competition in the Kingdom’s markets. Established to ensure fair trade practices and prevent monopolistic behavior, the GAC plays a critical role in supporting the objectives of Saudi Vision 2030, which aims to diversify the economy, enhance the private sector’s role, and create a competitive business environment that attracts both domestic and international investment.

The 2024 Global Forum on Competition, organized by the OECD, represents one of the most significant gatherings of competition authorities worldwide. The OECD, a Paris-based international organization with 38 member countries, has long served as a platform for policy dialogue and cooperation on economic issues, including competition law and enforcement. The forum provides a unique opportunity for competition officials from diverse economies to exchange best practices, discuss emerging challenges, and develop collaborative approaches to regulating markets in an increasingly interconnected global economy.

Saudi Arabia’s participation in this forum is not an isolated event but part of a broader strategy to integrate the Kingdom into international economic governance frameworks. Under Vision 2030, Saudi Arabia has sought to strengthen its ties with multilateral organizations, participate actively in global policy discussions, and position itself as a responsible and influential player in the international economic order. The GAC’s engagement with the OECD and other international bodies underscores this strategic direction.

Key Details and Achievements Presented

During the forum, GAC Chief Executive Fahad Alshathri highlighted the significant progress made by the General Authority for Competition in recent years. The GAC has implemented a series of reforms aimed at enhancing market transparency, strengthening enforcement mechanisms, and promoting a culture of compliance among businesses operating in Saudi Arabia. These efforts align with the Kingdom’s broader economic reforms under Vision 2030, which seek to create a dynamic and competitive private sector capable of driving sustainable growth and job creation.

Alshathri, in his capacity as chair of the Arab Competition Network, also presented the network’s achievements in fostering cooperation among competition authorities across the Arab world. The Arab Competition Network serves as a platform for sharing knowledge, building capacity, and coordinating enforcement efforts among member states. Under Saudi leadership, the network has made strides in harmonizing competition policies across the region, facilitating cross-border investigations, and promoting a common understanding of best practices in competition law enforcement.

The MENA regional meeting organized by ESCWA, UNCTAD, and the OECD provided an additional venue for Alshathri to engage with counterparts from across the region. This meeting focused on the unique challenges and opportunities facing competition authorities in the MENA region, including the need to adapt regulatory frameworks to rapidly evolving digital markets, the importance of international cooperation in addressing cross-border anti-competitive practices, and the role of competition policy in promoting inclusive economic growth.

What specific outcomes can be expected from these international engagements? The GAC’s participation in the Global Forum on Competition and similar events aims to realize the strategic objectives of the authority by enhancing collaboration and integration with international organizations and leading competition authorities. By building strong relationships with counterparts around the world, the GAC positions itself to benefit from the latest developments in competition policy, access technical assistance and capacity-building resources, and contribute Saudi perspectives to global policy discussions.

International and Regional Impact

Saudi Arabia’s active participation in the Global Forum on Competition sends a powerful signal about the Kingdom’s commitment to international cooperation and its willingness to engage constructively with global institutions. For international observers, the GAC’s presence at the OECD forum demonstrates that Saudi Arabia is serious about creating a transparent and competitive business environment, a key factor in attracting foreign direct investment and fostering economic diversification.

The Kingdom’s leadership role in the Arab Competition Network further enhances its standing in the region. By chairing the network and actively contributing to its work, Saudi Arabia positions itself as a leader in promoting regional economic integration and cooperation. This leadership is particularly important as countries across the MENA region undertake economic reforms and seek to create more dynamic and competitive markets. The Arab Competition Network provides a valuable platform for sharing experiences, building capacity, and developing coordinated approaches to common challenges.

How does Saudi Arabia’s engagement with the OECD and other international organizations benefit the Kingdom’s economy? The exchange of knowledge and best practices that occurs at forums like the Global Forum on Competition helps the GAC refine its regulatory approaches and enforcement strategies. By learning from the experiences of other countries, the GAC can avoid pitfalls, adopt proven solutions, and ensure that its policies are aligned with international standards. This, in turn, creates a more predictable and attractive environment for businesses, which is essential for attracting investment and promoting economic growth.

Economic and Strategic Significance

The GAC’s participation in international forums is closely tied to Saudi Arabia’s broader economic strategy under Vision 2030. One of the central pillars of Vision 2030 is the creation of a vibrant private sector that can drive economic growth and create jobs for Saudi citizens. A key prerequisite for a thriving private sector is a competitive market environment where businesses can compete on a level playing field, free from monopolistic practices and anti-competitive behavior.

By strengthening its competition enforcement capabilities and aligning its practices with international best practices, the GAC contributes directly to the achievement of Vision 2030 objectives. A robust competition regime attracts investment by ensuring that new entrants can compete fairly, encourages innovation by rewarding efficiency and creativity, and protects consumers by ensuring they have access to a wide range of goods and services at competitive prices. These outcomes are essential for building a diversified and sustainable economy.

What role does competition policy play in attracting foreign investment to Saudi Arabia? International investors closely evaluate the regulatory environment of potential investment destinations, and a strong competition framework is a positive indicator. When investors see that Saudi Arabia has a well-functioning competition authority that is engaged with international standards and best practices, they gain confidence that their investments will be protected and that they will be able to compete fairly in the Saudi market. This confidence is crucial for attracting the levels of foreign investment that Vision 2030 envisions.

Vision 2030 Alignment

The General Authority for Competition’s participation in the 2024 Global Forum on Competition exemplifies Saudi Arabia’s commitment to international engagement and its determination to build a world-class regulatory environment. Under Vision 2030, the Kingdom has set ambitious goals for economic diversification, private sector development, and integration into the global economy. The GAC’s work directly supports these goals by promoting fair competition, protecting consumers, and creating an attractive environment for investment.

As Saudi Arabia continues its journey of economic transformation, the role of the GAC will only grow in importance. By engaging with international organizations like the OECD, UNCTAD, and ESCWA, and by leading regional initiatives like the Arab Competition Network, the GAC ensures that Saudi Arabia remains at the forefront of global competition policy developments. This engagement benefits not only the Kingdom but also the broader region, as Saudi Arabia shares its experiences and contributes to the development of competition frameworks that promote prosperity and economic integration.

The Kingdom’s active presence at the Global Forum on Competition underscores its emergence as a responsible and influential player in the global economy. As Vision 2030 continues to unfold, Saudi Arabia will remain committed to international cooperation, regulatory excellence, and the creation of a competitive business environment that benefits businesses, consumers, and society as a whole. The GAC’s participation in Paris is a testament to this commitment and a sign of the Kingdom’s growing role in shaping the future of global competition policy.

20 Questions

Q1. What is the General Authority for Competition (GAC) of Saudi Arabia?

A1. The General Authority for Competition is Saudi Arabia’s primary regulatory body responsible for promoting fair competition, preventing monopolistic practices, and protecting consumers in the Kingdom’s markets. It supports Vision 2030 economic reforms.

Q2. What was the 2024 Global Forum on Competition?

A2. The 2024 Global Forum on Competition was a major international gathering organized by the OECD in Paris, bringing together competition officials from member and non-member economies to discuss key global competition policy issues.

Q3. Who represented Saudi Arabia at the 2024 Global Forum on Competition?

A3. Fahad Alshathri, Chief Executive of the General Authority for Competition, led Saudi Arabia’s delegation. He also serves as chair of the Arab Competition Network.

Q4. What is the Organization for Economic Cooperation and Development (OECD)?

A4. The OECD is a Paris-based international organization with 38 member countries that promotes policies to improve economic and social well-being worldwide, including through competition policy dialogue.

Q5. What topics were discussed at the 2024 Global Forum on Competition?

A5. The forum addressed key topics on the global competition agenda, including emerging challenges in digital markets, international cooperation, and best practices in competition law enforcement.

Q6. What is the Arab Competition Network?

A6. The Arab Competition Network is a regional platform that fosters cooperation among competition authorities across the Arab world, sharing knowledge, building capacity, and coordinating enforcement efforts among member states.

Q7. What achievements did Alshathri present at the MENA regional meeting?

A7. Alshathri presented the achievements of both the GAC and the Arab Competition Network, highlighting progress in enhancing market transparency and promoting regional cooperation in competition policy.

Q8. Which organizations organized the MENA regional meeting?

A8. The MENA regional meeting was organized by the United Nations Economic and Social Commission for Western Asia (ESCWA), UN Trade and Development (UNCTAD), and the OECD.

Q9. Why does Saudi Arabia participate in international competition forums?

A9. Saudi Arabia participates to enhance collaboration with international organizations, exchange best practices, and support Vision 2030 objectives of economic diversification and creating a competitive business environment.

Q10. How does the GAC support Saudi Vision 2030?

A10. The GAC supports Vision 2030 by promoting fair competition, attracting investment, encouraging innovation, and protecting consumers, all of which contribute to a diversified and sustainable economy.

Q11. What is the significance of Saudi Arabia chairing the Arab Competition Network?

A11. Saudi Arabia’s chairmanship demonstrates its leadership role in regional economic cooperation and its commitment to promoting competition policy best practices across the Arab world.

Q12. How does competition policy attract foreign investment?

A12. A strong competition framework assures investors that they can compete fairly, that their investments are protected, and that the regulatory environment is predictable and aligned with international standards.

Q13. What are the key objectives of the GAC?

A13. The GAC aims to promote and protect competition, prevent monopolistic practices, enhance market transparency, protect consumers, and support the creation of a dynamic private sector in Saudi Arabia.

Q14. How does the GAC’s work benefit Saudi consumers?

A14. The GAC’s work benefits consumers by ensuring access to a wide range of goods and services at competitive prices, preventing price-fixing, and promoting market efficiency and innovation.

Q15. What role does international cooperation play in competition enforcement?

A15. International cooperation is essential for addressing cross-border anti-competitive practices, sharing best practices, building capacity, and ensuring consistent enforcement across jurisdictions in an interconnected global economy.

Q16. What challenges do competition authorities in the MENA region face?

A16. MENA competition authorities face challenges including adapting to digital markets, building institutional capacity, coordinating cross-border enforcement, and promoting competition culture in diverse economic environments.

Q17. How does the GAC engage with international organizations?

A17. The GAC engages with organizations like the OECD, UNCTAD, and ESCWA through participation in forums, technical cooperation, capacity-building initiatives, and knowledge exchange programs.

Q18. What is the significance of the GAC’s participation in the OECD forum?

A18. It demonstrates Saudi Arabia’s commitment to international cooperation, aligns the Kingdom with global best practices, and enhances its standing as a responsible player in the international economic order.

Q19. How does competition policy contribute to economic diversification?

A19. Competition policy contributes to diversification by creating a level playing field for businesses, encouraging new entrants, fostering innovation, and attracting investment in non-oil sectors of the economy.

Q20. What does the future hold for Saudi Arabia’s competition policy?

A20. Saudi Arabia’s competition policy will continue to evolve under Vision 2030, with the GAC strengthening enforcement, enhancing international cooperation, and promoting a competitive environment that supports sustainable economic growth.

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