The UAE joined the BRICS Memorandum of Understanding on Competition during its participation in the meeting of BRICS competition authorities hosted by South Africa recently. The MoU aims to strengthen international cooperation in the field of competition, enhance mechanisms to combat monopolistic practices, facilitate the exchange of expertise and knowledge, and develop effective policies in this vital area.
The move is part of the UAE’s ongoing efforts to cement its role as an active strategic partner in driving global growth. It also expands opportunities to forge advanced partnerships with counterparts in major economies and emerging markets, while supporting knowledge transfer and the development of national capabilities in the field of competition.
In this context, H.E. Safia Al Safi, Assistant Undersecretary for Control and Commercial Governance Sector at the Ministry of Economy and Tourism, emphasized that joining the Memorandum of Understanding, signed by the competition authorities of the BRICS countries, is an important step toward enhancing international cooperation in this vital field, facilitating the exchange of expertise and best practices in applying and enforcing competition laws, and fostering more transparent and dynamic markets, thereby contributing to sustainable economic development among nations.
H.E. Safia Al Safi explained that this move reflects the Ministry’s commitment to developing a business environment on the foundations of transparency and fair competitiveness, supporting the UAE’s position as a leading global destination for investment and business, and enhancing its contribution to shaping global economic policies.
Participation in BRICS Competition Conferences
The UAE participated in the 9th International BRICS Competition Conference 2025 and the 19th Annual Conference on Competition Law, Economics, and Policy, which drew extensive participation from heads and representatives of competition authorities from across member states, alongside a number of experts, specialists, and academics.
The UAE’s participation underscores its commitment to strengthening its presence in international economic forums and supporting global efforts to develop competition policies and combat monopolistic practices. These efforts contribute to sustainable economic growth and enable the UAE to keep pace with transformations in the global economy.
The events featured extensive discussions on the most pressing economic challenges related to competition in BRICS countries. Participants examined the interplay between competition, sustainability, trade, and investment, and explored the implications of rapid developments in digital markets and AI technologies. Sessions also highlighted the need to develop legislation capable of keeping pace with these changes while ensuring fair competition.
