Understanding The New Competition Law In The UAE

Introduction:

The UAE has introduced a new competition law and abrogated the old competition law, federal law No. 4 of 2012. The new federal decree law No. 36 of 2023 on the regulation of competition sets forth competition practices and measures against commercial monopolies. By introducing new rules and regulations, as well as penalties that will prohibit practices that damage competition and establish regulatory support, this new competition law will help improve fairness, competition, and consumer protection.

In accordance with Article 1 of the new competition law, it stipulates the important definitions, such as:

Competition:

Participating in economic activities within the market system without any adverse influence or restrictions that may be detrimental to consumer interests, development, or trade.