At the Egyptian Competition Authority’s (ECA) second annual conference on Monday, experts underscored the critical role of competition law in addressing global economic and social challenges and promoting sustainable growth.
Alexey Ivanov, Director of the International BRICS Competition Law and Policy Centre and Academic Supervisor of the HSE Technology Transfer Centre, stressed the importance of competition authorities in navigating today’s complex global landscape.
In his speech, Ivanov pointed to significant challenges in the global grain market, particularly a lack of transparency and monopolistic practices by major traders. He called for urgent structural reforms, advocating for the establishment of a more transparent and efficient grain exchange platform to better protect the interests of consumers and importing nations.
Ivanov also highlighted Egypt’s strategic position as a bridge between regions and its potential role in working with BRICS countries to enhance transparency and strengthen market regulations, particularly within the grain sector. He concluded by urging greater international cooperation among competition authorities to support sustainable economic growth that benefits both developing countries and consumers.
Meanwhile, Maxim Yermalovich, the Eurasian Economic Commission (EEC) Minister in charge of Competition and Antitrust Regulation, emphasized Egypt’s importance as a key partner of the Eurasian Economic Union (EAEU) in the Arab world and Africa.
Speaking at the conference, Yermalovich noted the strong trade ties between Egypt and EAEU member states, with bilateral trade surpassing $8bn last year — a testament to the positive momentum in their economic relations.
He also praised Egypt’s active participation in regional initiatives such as the African Continental Free Trade Area (AfCFTA) and COMESA, as well as its recent accession to the World Trade Organization, all of which further enhance its cooperation with the EAEU. Yermalovich highlighted ongoing efforts to deepen collaboration through joint meetings on cross-border competition issues and the development of new mechanisms to promote fair practices in international markets, particularly in e-commerce and goods markets, contributing to global trade stability.
William Kovacic, Professor of Competition Law at George Washington University and former Chair of the US Federal Trade Commission, also addressed the conference, describing competition as a fundamental driver of economic performance.
Kovacic explained that competition fosters innovation, drives down prices, and improves product quality, all of which are essential for sustainable economic growth. He cited public procurement — which accounts for about 15% of Egypt’s GDP — as a prime example where enhancing competition could yield significant benefits across sectors such as education, healthcare, transportation, and infrastructure.
Highlighting the broader social impact of competition policy, Kovacic stated: “By relying on free markets, competition laws ensure that citizens fairly share in economic growth, creating an environment where individuals can succeed and reach their full potential, ultimately enhancing societal well-being.”
