Over the past year, antitrust regulators in the Middle East have implemented significant changes to the local competition law regimes, with a new competition law coming into effect in the United Arab Emirates and substantial changes being made to the applicable merger control regimes in the Kingdom of Saudi Arabia (KSA) and Egypt. Competition law enforcement has also continued to intensify in the KSA and Egypt, as well as in other key emerging markets in the GCC. During this 2-hour seminar, we will provide an update on the latest key competition law developments and what to expect on the horizon as well as compliance tips and pointers.

For the third week, we continued our Annual Compliance Conference with key customs developments impacting on businesses today. Specifically, we discussed the reform of the Union Customs Code in the EU, key trending customs developments in EMEA, and different methods of driving significant financial savings in global supply chains.

On 28 September 2023, the United Arab Emirates (UAE) issued Federal Law No. 36 of 2023 (“New Competition Law”), which repealed and replaced Federal Law No. 4 of 2012. The New Competition Law signals a new era of enforcement by the UAE Ministry of Economy by providing a functional competition regime through, inter alia: extending a wider scope of application to almost all economic activities; expanding its mandate by prohibiting new conducts and introducing a new dominance test; and finally introducing administrative penalties and stricter financial penalties. The New Competition Law will officially enter into force on 28 December 2023, with the executive regulation to be published within six months thereafter.

On 3 July 2023, the UAE issued Cabinet Decision No. 66 of 2023 concerning the Executive Regulations of Federal Law No. 15 of 2020 on Consumer Protection. The most prominent changes in the Executive Regulations include the additional safeguards granted to customers and guidance on prohibited clauses and conditions to be included in contracts and Terms & Conditions with customers. With the widespread use of e-commerce globally, the Executive Regulations have also brought e-commerce providers under its remit and placed additional responsibilities on such providers.

We are delighted to invite you to our Baker McKenzie Middle East Customs and Transfer Pricing Briefing.
Hosted at our Dubai International Financial Centre (DIFC) office on 12 October 2023 at 8:30 – 11:30 am GST, the session is designed to provide you with first-hand insights from our Middle East and international experts in the fields of Customs, Transfer Pricing and VAT.

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