A study is currently under way for the establishment of a permanent independent commission in the Kingdom entitled the “Commission for Fair Competition and Antitrust.”

The commission will be tasked with gathering and analyzing information on the prices, market behavior and negative affects of malpractice in the Kingdom, a local newspaper reported.

In addition, the commission is to cooperate with the Consumer Protection Association with the aim of activating the role of consumers in enforcing the policy of fair competition.

This step comes in line with Article VII of the GCC’s unified competition system, which stipulates, “Each individual state is to establish a body entrusted with protecting fair competition according to its governing national laws.”

The officials concerned have realized that this task will depend on the availability of reliable information and an updated market report watch, in addition to official data that the competent bodies will release, available field information, complaints and statements issued by the local press.

Among other things, the commission will focus on developing information and a follow-up system, supervising the economic activities affecting competition, encouraging investments by limiting preferential treatment, avoiding decisions that affect competition and coordinating with the Saudi Arabian General Investment Authority.

The priority of the commission in the first phase will be to rectify current issues with utmost accuracy and efficiency for the sake of ensuring its credibility. The next steps will involve subjecting any violators that disrupt the market balance to regular monitoring by using advanced technology, as well as exchanging information, both locally and internationally.

An integrated database will be developed once the commission is established. The commission will also conduct market studies of the various economic sectors related to competition and antitrust and create a cooperation plan with the Chambers of Commerce.