Open AccessEvolving Dynamics in Competition Law: A GCC Perspective
Author(s) -
Nora Memeti
Publication year - 2019
Publication title -
yearbook of antitrust and regulatory studies
Language(s) - English
Resource type - Journals
eISSN - 2545-0115
pISSN - 1689-9024
DOI - 10.7172/1689-9024.yars.2019.12.19.8
Subject(s) - competition law , competition (biology) , enforcement , scrutiny , merger control , normative , order (exchange) , legislature , law and economics , incentive , political science , business , law , economics , international trade , market economy , commission , monopoly , ecology , biology , finance
This article examines the Competition Laws of the Members States of the Gulf Cooperation Council (GCC). It examines their content, puts all of them under general scrutiny from their enactment until today and compares their basic features to other (developed) competition law jurisdictions, such as EU Competition Law and US Antitrust Law. The article argues the importance of the Advocacy principle in the region and the incentives international organizations (IOs) have induced so far for the development of Competition Law in the GCC Countries, including the link between trade and Competition Law. In today’s economy where online giant companies dominate, where the restrictive conduct among separate independent commercial entities grows immensely, and where mergers do not identify formal state borders, the need for global Competition Law enforcement is indispensable. Therefore, in order to be part of the global competition world, a creation of GCC Competition Law may be considered progressive and advantageous. The article argues the purposes and motivations why such awareness is desirable and provides legislative and normative recommendations on how to accomplish this endeavor.