Federal LawResolution of the Council of Ministers No. (37) of 2014

15/10/2023by Hossam Zakaria0

Table of Contents

“Promoting fair competition for a thriving economy.”

Introduction

The Resolution of the Council of Ministers No. (37) of 2014 concerns the Executive Regulation of the Federal Law No. (4) of 2012 on the Regulation of Competition. This resolution provides guidelines and regulations for the implementation of the competition law in the United Arab Emirates. It aims to promote fair competition, prevent anti-competitive practices, and protect consumers’ interests in the market. The resolution outlines the procedures, requirements, and penalties related to competition law violations, as well as the establishment and functioning of the Competition Regulation Committee. Overall, this resolution plays a crucial role in ensuring a competitive and fair business environment in the UAE.

Overview of Resolution of the Council of Ministers No. (37) of 2014

The Resolution of the Council of Ministers No. (37) of 2014 is a significant document that provides the executive regulation for the Federal Law No. (4) of 2012 on the Regulation of Competition in the United Arab Emirates. This resolution serves as a comprehensive guide for businesses and individuals operating in the UAE, outlining the rules and regulations that govern competition in the country.

The resolution begins by stating its purpose, which is to promote and protect fair competition in the UAE market. It emphasizes the importance of competition in driving economic growth, innovation, and consumer welfare. The resolution recognizes that competition is essential for creating a level playing field and preventing anti-competitive practices that may harm consumers or restrict market access for businesses.

One of the key aspects of the resolution is the establishment of the Competition Regulation Committee (CRC). The CRC is responsible for implementing and enforcing the provisions of the Federal Law No. (4) of 2012. It has the authority to investigate complaints, conduct market studies, and issue guidelines and regulations to ensure fair competition. The CRC plays a crucial role in promoting transparency and accountability in the competition enforcement process.

The resolution also outlines the powers and responsibilities of the CRC. It grants the CRC the authority to issue decisions and impose penalties on businesses found to be engaging in anti-competitive practices. These penalties can include fines, injunctions, and even criminal sanctions in severe cases. The resolution emphasizes the importance of deterrence and ensuring that businesses comply with competition laws to maintain a fair and competitive market.

Furthermore, the resolution provides guidance on various aspects of competition law, including mergers and acquisitions, abuse of dominant position, and agreements that restrict competition. It sets out the criteria for assessing mergers and acquisitions to determine whether they are likely to substantially lessen competition. It also prohibits abuse of dominant position, such as predatory pricing or exclusive dealing, which may harm competition in the market.

The resolution also addresses agreements that restrict competition, such as cartels or price-fixing arrangements. It prohibits any agreements or practices that have the object or effect of preventing, restricting, or distorting competition. The resolution provides clarity on what constitutes anti-competitive agreements and the factors that the CRC will consider when assessing their impact on competition.

In addition to these provisions, the resolution also covers other important areas, such as leniency programs, cooperation with other competition authorities, and the protection of confidential information. It encourages businesses to come forward and cooperate with the CRC in cases of anti-competitive conduct, offering leniency and immunity from penalties in exchange for valuable information.

Overall, the Resolution of the Council of Ministers No. (37) of 2014 is a comprehensive and important document that provides the executive regulation for the Federal Law No. (4) of 2012 on the Regulation of Competition in the UAE. It establishes the framework for promoting fair competition, preventing anti-competitive practices, and ensuring consumer welfare. The resolution outlines the powers and responsibilities of the CRC, provides guidance on various aspects of competition law, and encourages cooperation and compliance from businesses. By implementing and enforcing this resolution, the UAE aims to create a competitive and dynamic market that benefits both businesses and consumers alike.

Key provisions of the Executive Regulation of Federal Law No. (4) of 2012

The Resolution of the Council of Ministers No. (37) of 2014 is a significant document that outlines the key provisions of the Executive Regulation of the Federal Law No. (4) of 2012 on the Regulation of Competition. This resolution plays a crucial role in ensuring fair competition and protecting consumers in the United Arab Emirates.

One of the key provisions of this executive regulation is the establishment of the Competition Regulation Committee. This committee is responsible for overseeing and enforcing the provisions of the Federal Law No. (4) of 2012. It has the authority to investigate and take action against any anti-competitive practices, such as abuse of dominant position or collusion between competitors. The committee also has the power to issue guidelines and regulations to promote fair competition in the market.

Another important provision of this executive regulation is the prohibition of anti-competitive agreements. The regulation explicitly states that any agreement, whether written or oral, that restricts competition or hinders the free market is prohibited. This includes agreements between competitors to fix prices, allocate markets, or limit production. Such agreements are considered to be harmful to consumers and can lead to higher prices and reduced choices.

The executive regulation also addresses the issue of abuse of dominant position. It defines a dominant position as a situation where a company has a significant market share and can act independently of its competitors, customers, and suppliers. The regulation prohibits companies with a dominant position from engaging in practices that harm competition, such as predatory pricing or refusing to deal with competitors. This provision aims to prevent monopolistic behavior and ensure a level playing field for all market participants.

Furthermore, the executive regulation introduces a merger control regime. It requires companies to notify the Competition Regulation Committee of any proposed mergers or acquisitions that meet certain thresholds. The committee then assesses whether the merger or acquisition is likely to substantially lessen competition in the market. If it determines that the transaction is anti-competitive, it can impose conditions or even prohibit the merger altogether. This provision aims to prevent the creation of dominant market players through mergers and acquisitions, which could harm competition and consumers.

The executive regulation also includes provisions to protect consumers from unfair practices. It prohibits false or misleading advertising, deceptive pricing, and unfair terms and conditions in contracts. It also establishes a mechanism for consumers to file complaints against companies that engage in unfair practices. The regulation empowers the Competition Regulation Committee to investigate such complaints and take appropriate action to protect consumers.

In conclusion, the Resolution of the Council of Ministers No. (37) of 2014 is a comprehensive document that outlines the key provisions of the Executive Regulation of the Federal Law No. (4) of 2012 on the Regulation of Competition. These provisions aim to promote fair competition, protect consumers, and prevent anti-competitive practices. The establishment of the Competition Regulation Committee, the prohibition of anti-competitive agreements, the regulation of abuse of dominant position, the introduction of a merger control regime, and the protection of consumers are some of the important provisions of this executive regulation. By implementing these provisions, the United Arab Emirates is taking significant steps towards creating a competitive and consumer-friendly market.

Understanding the Federal Law No. (4) of 2012 on the Regulation of Competition

The Resolution of the Council of Ministers No. (37) of 2014 is an important document that concerns the Executive Regulation of the Federal Law No. (4) of 2012 on the Regulation of Competition. To fully understand the significance of this resolution, it is essential to have a clear understanding of the Federal Law No. (4) of 2012 on the Regulation of Competition.

The Federal Law No. (4) of 2012 on the Regulation of Competition was enacted to promote and protect fair competition in the United Arab Emirates. It aims to prevent anti-competitive practices and ensure a level playing field for businesses operating in the country. The law applies to all economic activities and sectors, including both public and private entities.

One of the key objectives of the law is to prevent monopolistic practices that can harm competition and consumers. It prohibits any agreements, decisions, or practices that restrict competition, abuse a dominant position, or result in the control of a substantial part of the market. This ensures that businesses cannot engage in anti-competitive behavior that limits consumer choice or drives up prices.

The law also establishes the Competition Regulation Committee, which is responsible for enforcing and implementing the provisions of the law. The committee has the authority to investigate complaints, conduct market studies, and impose penalties on businesses found to be in violation of the law. This ensures that there is a regulatory body in place to monitor and enforce fair competition practices.

In addition to preventing anti-competitive practices, the law also encourages fair competition by promoting transparency and providing a level playing field for all businesses. It requires businesses to provide accurate and complete information to consumers, ensuring that they can make informed choices. It also prohibits any false or misleading advertising that may deceive consumers.

The law also encourages cooperation between businesses and the government to promote fair competition. It allows for the establishment of industry associations and encourages businesses to participate in self-regulatory initiatives. This ensures that businesses can work together to develop industry standards and best practices that promote fair competition.

The Resolution of the Council of Ministers No. (37) of 2014 is an important document that provides the executive regulations for the Federal Law No. (4) of 2012 on the Regulation of Competition. These regulations provide further guidance and clarification on the implementation of the law. They outline the procedures for filing complaints, conducting investigations, and imposing penalties.

The resolution also establishes the Competition Regulation Committee as the regulatory body responsible for enforcing the law. It outlines the powers and responsibilities of the committee, including its authority to conduct investigations, impose fines, and issue orders to businesses found to be in violation of the law.

In conclusion, the Federal Law No. (4) of 2012 on the Regulation of Competition is a crucial piece of legislation that aims to promote fair competition in the United Arab Emirates. It prohibits anti-competitive practices, encourages transparency, and provides a level playing field for businesses. The Resolution of the Council of Ministers No. (37) of 2014 provides the executive regulations for the law, ensuring its effective implementation and enforcement. Together, these documents play a vital role in promoting fair competition and protecting the interests of consumers in the UAE.

Implications of Resolution of the Council of Ministers No. (37) of 2014

The Resolution of the Council of Ministers No. (37) of 2014 has significant implications for the regulation of competition in the United Arab Emirates. This resolution, which concerns the executive regulation of the Federal Law No. (4) of 2012 on the Regulation of Competition, aims to promote fair competition and protect consumers in the UAE market.

One of the key implications of this resolution is the establishment of the Competition Regulation Committee. This committee is responsible for implementing and enforcing the provisions of the Federal Law No. (4) of 2012. It has the authority to investigate and penalize any anti-competitive practices, such as abuse of dominant position, collusion, and unfair trade practices. By creating this committee, the UAE government is demonstrating its commitment to ensuring a level playing field for businesses and protecting the rights of consumers.

Another important implication of this resolution is the introduction of merger control regulations. Under the new regulations, companies that meet certain thresholds are required to notify the Competition Regulation Committee before merging. This allows the committee to assess the potential impact of the merger on competition in the market. If the committee determines that the merger is likely to substantially lessen competition, it has the power to prohibit the merger or impose conditions to address any competition concerns. This provision aims to prevent the creation of monopolies or dominant market positions that could harm competition and consumers.

Furthermore, the resolution introduces provisions to regulate anti-competitive agreements and practices. It prohibits agreements between competitors that restrict competition, such as price-fixing, market allocation, and bid-rigging. It also prohibits abuse of dominant position, which includes practices such as predatory pricing, refusal to deal, and tying arrangements. These provisions are crucial in ensuring that businesses compete fairly and do not engage in practices that harm competition or consumers.

In addition to these provisions, the resolution also establishes a leniency program. This program allows businesses that have engaged in anti-competitive practices to come forward and cooperate with the Competition Regulation Committee in exchange for leniency. This can include reduced penalties or immunity from prosecution. The leniency program aims to encourage businesses to self-report anti-competitive practices, which can help the committee in its investigations and enforcement actions.

Overall, the Resolution of the Council of Ministers No. (37) of 2014 has far-reaching implications for the regulation of competition in the UAE. It establishes a comprehensive framework for promoting fair competition and protecting consumers. By creating the Competition Regulation Committee, introducing merger control regulations, and regulating anti-competitive agreements and practices, the UAE government is sending a clear message that it is committed to ensuring a competitive and fair market. The leniency program further strengthens the enforcement of competition law by encouraging businesses to self-report anti-competitive practices. With these measures in place, the UAE is well-positioned to foster a competitive business environment that benefits both businesses and consumers.

Analysis of the Executive Regulation’s impact on competition in the market

The Resolution of the Council of Ministers No. (37) of 2014, which concerns the Executive Regulation of the Federal Law No. (4) of 2012 on the Regulation of Competition, has had a significant impact on competition in the market. This article aims to analyze the effects of the Executive Regulation on competition and its implications for businesses and consumers.

One of the key provisions of the Executive Regulation is the establishment of the Competition Regulation Authority (CRA). The CRA is responsible for enforcing the provisions of the Federal Law on the Regulation of Competition and ensuring fair competition in the market. This has led to increased transparency and accountability in the market, as businesses are now required to comply with the regulations set by the CRA.

The Executive Regulation also introduces a number of measures to prevent anti-competitive practices. For instance, it prohibits agreements or practices that restrict competition, such as price-fixing or market allocation. This has created a level playing field for businesses, as they are now required to compete based on their merits rather than engaging in anti-competitive behavior.

Furthermore, the Executive Regulation promotes consumer welfare by prohibiting unfair practices that harm consumers. It prohibits misleading advertising, deceptive practices, and unfair terms and conditions in contracts. This has empowered consumers and given them the confidence to make informed choices in the market.

Another important aspect of the Executive Regulation is the promotion of economic efficiency. It encourages businesses to innovate and invest in research and development, as it recognizes the importance of competition in driving economic growth. By promoting competition, the Executive Regulation has created an environment that fosters innovation and encourages businesses to strive for excellence.

Moreover, the Executive Regulation has had a positive impact on small and medium-sized enterprises (SMEs). It recognizes the importance of SMEs in promoting competition and economic growth and provides them with support and protection. For instance, it prohibits abuse of dominant position by larger companies, ensuring that SMEs have a fair chance to compete in the market.

The Executive Regulation also establishes a leniency program, which encourages businesses to come forward and report anti-competitive practices in exchange for immunity or reduced penalties. This has been instrumental in uncovering and deterring anti-competitive behavior, as businesses are incentivized to cooperate with the CRA and provide valuable information.

In conclusion, the Resolution of the Council of Ministers No. (37) of 2014, concerning the Executive Regulation of the Federal Law No. (4) of 2012 on the Regulation of Competition, has had a significant impact on competition in the market. It has established the Competition Regulation Authority, introduced measures to prevent anti-competitive practices, promoted consumer welfare, encouraged economic efficiency, supported SMEs, and established a leniency program. These provisions have created a fair and competitive market environment, benefiting businesses and consumers alike. The Executive Regulation has set a strong foundation for competition in the market and has the potential to drive economic growth and innovation in the future.

Compliance requirements under Resolution of the Council of Ministers No. (37) of 2014

The Resolution of the Council of Ministers No. (37) of 2014 is a significant piece of legislation that addresses the compliance requirements under the Federal Law No. (4) of 2012 on the Regulation of Competition. This resolution provides detailed guidelines and regulations that businesses must adhere to in order to ensure fair competition and prevent anti-competitive practices.

One of the key compliance requirements outlined in the resolution is the need for businesses to submit a notification to the Competition Regulation Authority (CRA) before engaging in any merger or acquisition activity. This notification must include detailed information about the transaction, such as the parties involved, the nature of the transaction, and the potential impact on competition in the relevant market. By requiring businesses to notify the CRA, the resolution aims to ensure that mergers and acquisitions do not result in a concentration of market power that could harm competition.

In addition to merger control, the resolution also imposes certain obligations on businesses with a dominant market position. These obligations are designed to prevent abuse of market power and promote fair competition. For example, businesses with a dominant market position are prohibited from engaging in anti-competitive practices such as predatory pricing, exclusive dealing, or tying arrangements. By prohibiting these practices, the resolution aims to create a level playing field for all businesses and protect consumers from unfair business practices.

Furthermore, the resolution also establishes a framework for the assessment of anti-competitive agreements and practices. It provides guidelines on how the CRA will assess agreements that restrict competition, such as cartels or price-fixing arrangements. The resolution also outlines the factors that the CRA will consider when determining whether an agreement or practice has an appreciable adverse effect on competition. By providing clear guidelines, the resolution aims to ensure consistency and transparency in the assessment of anti-competitive agreements and practices.

To ensure compliance with the resolution, businesses are required to maintain accurate records and documentation related to their compliance efforts. This includes keeping records of any agreements or practices that may have an impact on competition, as well as any notifications or submissions made to the CRA. By maintaining these records, businesses can demonstrate their commitment to compliance and provide evidence of their efforts to prevent anti-competitive behavior.

In conclusion, the Resolution of the Council of Ministers No. (37) of 2014 is a crucial piece of legislation that sets out the compliance requirements under the Federal Law No. (4) of 2012 on the Regulation of Competition. By requiring businesses to notify the CRA of mergers and acquisitions, imposing obligations on businesses with a dominant market position, and establishing a framework for the assessment of anti-competitive agreements and practices, the resolution aims to promote fair competition and protect consumers. Businesses must ensure that they comply with these requirements and maintain accurate records to demonstrate their commitment to compliance. By doing so, they can contribute to a competitive and fair business environment.

Case studies illustrating the application of the Executive Regulation

The Resolution of the Council of Ministers No. (37) of 2014 is a significant document that outlines the Executive Regulation of the Federal Law No. (4) of 2012 on the Regulation of Competition. This resolution provides a framework for the application of the law and ensures fair competition in the market. In this section, we will explore some case studies that illustrate the practical application of the Executive Regulation.

One such case study involves a telecommunications company that was found to be engaging in anti-competitive practices. The company had a dominant market position and was using its power to restrict competition. The Executive Regulation was applied in this case to investigate the company’s conduct and impose appropriate penalties. The resolution allowed for the imposition of fines and other measures to ensure fair competition in the telecommunications sector.

Another case study involves a merger between two major airlines. The Executive Regulation requires that mergers and acquisitions be subject to a competition assessment to determine their impact on the market. In this case, the competition authority conducted a thorough analysis of the merger and found that it would result in a significant reduction in competition. As a result, the authority imposed conditions on the merger to mitigate its anti-competitive effects and protect consumer interests.

The Executive Regulation also addresses the issue of abuse of dominant position. In one case study, a pharmaceutical company was found to be abusing its dominant position by charging excessive prices for a life-saving drug. The competition authority, using the framework provided by the resolution, conducted an investigation and imposed fines on the company. This case study highlights the importance of the Executive Regulation in preventing companies from exploiting their market power to the detriment of consumers.

Furthermore, the resolution also addresses the issue of cartels and collusion. In a case study involving the construction industry, several companies were found to be colluding to fix prices and allocate projects among themselves. The competition authority, with the help of the Executive Regulation, conducted a thorough investigation and imposed significant fines on the companies involved. This case study demonstrates the effectiveness of the resolution in detecting and deterring anti-competitive behavior.

In conclusion, the Resolution of the Council of Ministers No. (37) of 2014 is a crucial document that provides the framework for the application of the Executive Regulation of the Federal Law No. (4) of 2012 on the Regulation of Competition. Through the examination of various case studies, we have seen how the resolution has been applied to address issues such as anti-competitive practices, mergers and acquisitions, abuse of dominant position, and cartels. These case studies illustrate the practical application of the Executive Regulation and highlight its importance in ensuring fair competition in the market. By enforcing the provisions of the resolution, competition authorities can protect consumer interests and promote a level playing field for businesses.

Challenges and opportunities for businesses under the Competition Regulation

The Resolution of the Council of Ministers No. (37) of 2014 concerning the Executive Regulation of the Federal Law No. (4) of 2012 on the Regulation of Competition has brought about both challenges and opportunities for businesses operating in the United Arab Emirates (UAE). This article aims to explore these challenges and opportunities in a comprehensive manner.

One of the main challenges that businesses face under the Competition Regulation is the need to comply with the strict rules and regulations set forth by the law. This includes ensuring that their business practices do not violate any anti-competitive behavior, such as price fixing or market sharing. Failure to comply with these regulations can result in hefty fines and penalties, which can have a significant impact on a company’s bottom line.

Furthermore, businesses also face the challenge of adapting their business strategies to comply with the Competition Regulation. This may require them to reevaluate their pricing strategies, marketing tactics, and even their product offerings. For example, companies may need to ensure that their pricing is fair and competitive, and that they do not engage in any misleading or deceptive advertising practices.

However, despite these challenges, the Competition Regulation also presents several opportunities for businesses. One of the main opportunities is the level playing field that it creates. By ensuring fair competition, the law allows businesses of all sizes to compete on an equal footing. This means that smaller businesses have a chance to compete with larger, more established companies, which can lead to increased innovation and consumer choice.

Additionally, the Competition Regulation also encourages businesses to focus on improving their products and services. With fair competition, businesses are incentivized to constantly innovate and improve in order to stay ahead of their competitors. This can lead to better quality products and services for consumers, as businesses strive to differentiate themselves in the market.

Moreover, the Competition Regulation also promotes consumer welfare. By preventing anti-competitive behavior, such as monopolies or cartels, the law ensures that consumers have access to a wide range of choices at fair prices. This can lead to increased consumer satisfaction and trust in the market, which in turn can benefit businesses by fostering customer loyalty and repeat business.

In conclusion, the Resolution of the Council of Ministers No. (37) of 2014 concerning the Executive Regulation of the Federal Law No. (4) of 2012 on the Regulation of Competition presents both challenges and opportunities for businesses in the UAE. While businesses must navigate the strict rules and regulations set forth by the law, they also have the opportunity to compete on a level playing field, innovate, and improve their products and services. Ultimately, the Competition Regulation aims to create a fair and competitive market that benefits both businesses and consumers alike.

Comparison of the UAE’s competition regulation with international standards

The Resolution of the Council of Ministers No. (37) of 2014 concerning the Executive Regulation of the Federal Law No. (4) of 2012 on the Regulation of Competition is a significant step towards aligning the UAE’s competition regulation with international standards. This article aims to compare the UAE’s competition regulation with international standards, highlighting the key areas of convergence and divergence.

One of the key areas where the UAE’s competition regulation aligns with international standards is in the definition of anti-competitive practices. The Resolution clearly defines anti-competitive practices, such as agreements between competitors to fix prices or allocate markets, abuse of dominant position, and mergers that may substantially lessen competition. These definitions are in line with international best practices and provide clarity to businesses operating in the UAE.

Another area where the UAE’s competition regulation is in line with international standards is in the establishment of a competition authority. The Resolution establishes the UAE Competition Authority, which is responsible for enforcing the competition law and ensuring compliance. This is similar to the competition authorities found in many other countries, such as the Federal Trade Commission in the United States or the Competition and Markets Authority in the United Kingdom. The establishment of a dedicated competition authority is crucial for effective enforcement of competition law and promoting fair competition in the market.

However, there are also areas where the UAE’s competition regulation diverges from international standards. One such area is the treatment of state-owned enterprises (SOEs). The Resolution provides exemptions for SOEs from certain provisions of the competition law, such as the prohibition on abuse of dominant position. This exemption is not in line with international best practices, as it can create an uneven playing field and hinder competition in the market. Many countries have taken steps to ensure that SOEs are subject to the same competition rules as private enterprises, in order to promote fair competition and prevent market distortions.

Another area where the UAE’s competition regulation differs from international standards is in the level of penalties for anti-competitive practices. The Resolution imposes relatively low fines for violations of the competition law, with a maximum fine of AED 5 million. In comparison, many other countries have much higher fines for similar violations. For example, the European Union can impose fines of up to 10% of a company’s global turnover. Higher fines act as a deterrent and send a strong message that anti-competitive behavior will not be tolerated.

In conclusion, the Resolution of the Council of Ministers No. (37) of 2014 concerning the Executive Regulation of the Federal Law No. (4) of 2012 on the Regulation of Competition is a significant step towards aligning the UAE’s competition regulation with international standards. While there are areas where the UAE’s competition regulation diverges from international best practices, such as the treatment of SOEs and the level of penalties, overall, the UAE’s competition regulation is in line with international standards in terms of defining anti-competitive practices and establishing a competition authority. It is important for the UAE to continue to review and update its competition regulation to ensure that it remains in line with evolving international best practices and promotes fair competition in the market.

Future prospects and potential amendments to the Executive Regulation

The Resolution of the Council of Ministers No. (37) of 2014 concerning the Executive Regulation of the Federal Law No. (4) of 2012 on the Regulation of Competition has been a significant step towards promoting fair competition and protecting consumers in the United Arab Emirates. This resolution has provided a comprehensive framework for the implementation of the competition law and has paved the way for a more competitive market.

Looking ahead, there are several future prospects and potential amendments that could further enhance the effectiveness of the Executive Regulation. One of the key areas that could be addressed is the enforcement mechanism. While the current regulation provides for penalties and fines for violations of the competition law, there is a need for a more robust enforcement mechanism to ensure compliance. This could include the establishment of a dedicated competition authority with the power to investigate and prosecute violations, as well as the introduction of leniency programs to encourage companies to come forward and report anti-competitive practices.

Another area that could be considered for amendment is the scope of the competition law. Currently, the law applies to all economic activities in the UAE, with certain exemptions for government entities and certain sectors. However, there may be a need to review and expand the scope of the law to cover emerging sectors such as e-commerce and digital platforms, which have the potential to significantly impact competition. This would ensure that the competition law remains relevant and effective in the face of evolving market dynamics.

In addition, there is a need to enhance the transparency and predictability of the competition law. This could be achieved through the publication of guidelines and explanatory notes that provide clarity on the application of the law and its provisions. This would help businesses understand their obligations and rights under the competition law, and would also assist the competition authority in its enforcement efforts. Furthermore, regular consultations with stakeholders, including businesses and consumer groups, could be conducted to gather feedback and address any concerns or issues that may arise.

Furthermore, it is important to consider the international dimension of competition law. The UAE is a member of the World Trade Organization (WTO) and has committed to abide by its rules and regulations. Therefore, any amendments to the Executive Regulation should be in line with international best practices and standards. This would ensure that the UAE remains a competitive and attractive destination for foreign investment, while also promoting fair competition and protecting consumers.

In conclusion, the Resolution of the Council of Ministers No. (37) of 2014 concerning the Executive Regulation of the Federal Law No. (4) of 2012 on the Regulation of Competition has laid a solid foundation for the implementation of the competition law in the UAE. However, there are several future prospects and potential amendments that could further enhance the effectiveness of the Executive Regulation. These include strengthening the enforcement mechanism, expanding the scope of the law, enhancing transparency and predictability, and considering the international dimension of competition law. By addressing these areas, the UAE can continue to promote fair competition, protect consumers, and foster a competitive market environment.

Conclusion

The Resolution of the Council of Ministers No. (37) of 2014 concerns the Executive Regulation of the Federal Law No. (4) of 2012 on the Regulation of Competition. This resolution provides guidelines and regulations for the implementation of the competition law in the United Arab Emirates. It aims to promote fair competition, prevent anti-competitive practices, and protect consumers’ interests. The resolution covers various aspects such as mergers and acquisitions, abuse of dominant position, and unfair trade practices. It establishes the role and responsibilities of the Competition Regulation Committee and outlines the procedures for filing complaints and conducting investigations. Overall, this resolution plays a crucial role in ensuring a competitive market environment in the UAE.