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First sectoral meeting with automotive sector held
June 15, 2019 | 4:58 PM
by Times News Service
The sectoral engagements aim to introduce the Competition Protection and Monopoly Prevention Law in Oman. - Supplied picture
 
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Muscat: The Competition Protection and Monopoly Prevention Centre (CMC) organised its first sectoral engagement meeting on June 12, 2019. The centre invited representatives from automotive distribution sector in the Sultanate of Oman. The sectoral engagements aim to introduce the Competition Protection and Monopoly Prevention Law in Oman.

The meeting was attended by His Highness Dr Adham bin Turki Al Said, Chairman of the Board of Directors of the Competition Protection and Monopoly Prevention Centre and the members of the Board, in addition to of directors and chief executives and their representative from the automotive distribution sector in the Sultanate.

This sectoral meeting was held as part of an awareness campaign organised by the centre highlighting the importance free economy systems where prices for goods and services are determined freely by the markets’ demand and supply.

During the meeting, the participants discussed the Competition Protection and Monopoly Prevention law issued by Royal Decree No. 67/2014, and amended by Royal Decree No. 22/2018. Discussions highlighted the prohibited practices, defined by the law, which violate or curb free competition in the market. Furthermore, the Centre conveyed the concerns received from market participants about practices that may affect competition within the sector.



HH Dr Turki Al Said, Chairman of the Centre, said: "These sectoral meetings are part of the Centre's efforts to strengthen the legal awareness of the Competition Protection and Monopoly Law and the measures taken to protect the trading parties. The Centre intends to hold a number of sectoral meetings targeting various vital sectors in the Sultanate as part of its awareness campaign".

It is worth noting that the Protection and Monopoly Prevention Centre was established by Royal Decree No. 2/2018, with a mandate uphold the laws and regulations relating to competition protection and monopoly prevention, protecting markets from abusive practices, preparing studies and researches in the market to detect harmful practices in competition.



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