TAG-SB and KAS Organize Jordan’s New Draft Competition Law Workshop
The Talal Abu-Ghazaleh Graduate School of Business Administration (TAG-SB) and Konrad-Adenauer-Stiftung (KAS) Amman held a workshop today entitled "Jordan's New Draft Competition Law: Achievement Made, Improvement Required" at Talal Abu-Ghazaleh Business Forum (TAG-Forum) which was inaugurated by HE Minister of Industry and Trade Eng. Amer Al-Hadidi.
In his key note speech, Al-Hadidi stated that the Ministry has implemented a number of policies and programs which aim at enhancing the competitiveness of the economic sectors in the country in a mechanism to create a healthy economic environment which attracts national and foreign investments.
"The Jordanian Government has adopted a clear strategy for development in all sectors according to a set of goals and targets and all economic indicators show that we have achieved a huge part of our future vision despite the global financial crisis. Our GDP continued to grow reaching 7.8% in 2009; unemployment decreased to 12.4% and investment increased significantly to reach JD1.8 billion of which 39% are foreign investments," he said.
Al-Hadidi noted that Jordan's competition law is in conformity with the international competition legislations adding that the Ministry has carried out several procedures to enhance and protect competition in the Kingdom one of which is the launch of the Competition Directorate.
"The Directorate has played a vital role in safeguarding competition regulations in the country. And through organizing awareness programs, workshops and conferences the Ministry was able to send a message to all that we are on the right track," he said.
According to the Minister, the third national competition conference will be held during the third quarter of this year with the participation of local, regional and international experts.
In his opening remarks on behalf of Mr. Talal Abu-Ghazaleh, chairman and CEO of Talal Abu-Ghazaleh Organization (TAG-Org), Mr. Mustafa Naserddin, Executive Director for International Affairs pointed out that the private and public sectors have a huge responsibility in spreading awareness regarding these laws.
"I believe that this unique partnership is a result of the rapid changes in the global economy and we have the sense of these changes thus we are working accordingly," he stressed.
From his part, Dr. Martin Beck, resident representative of KAS Amman office, said: "The joint workshop is the result of a long cooperation between the two organizations on improving the Jordanian competition law. The recently drafted competition law has been deeply influenced by the input of the two parties' working group."
He added: "The drafted competition law that will be assessed in the workshop is of utmost importance for the modernization process of Jordan for two main reasons. Firstly, it will help Jordan to meet international standards and to be perceived as a modern economy. Secondly, the new drafted law will improve the life of all Jordanians: It will increase fair competition between producers in Jordan by curtailing monopolies and oligopolies. Moreover, it is also good for consumers because they will benefit ultimately from competition by paying fair prices when they purchase products on the market."
During the one-day venue, various presentations were delivered covering various topics such as; Practical Needs for amending Competition Law; The Jordanian Experience in Comparison with other Countries in the Arab Region and the Draft Competition Law in addition to other key issues.
Attorneys from Germany, United Arab Emirates, Jordan and Lebanon and other concerned parties took part in the event.
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