Tripoli: The Chairman of the Libyan Competition and Anti-Monopoly Council, Salama Al-Ghawil, and the Chairman of the Turkish Competition Authority have agreed on an implementation program to activate the cooperation agreement previously signed between the two parties. This program focuses on enhancing the exchange of expertise and developing technical capabilities in competition law enforcement, anti-monopoly measures, and market protection.
According to Libyan News Agency, the agreement was finalized during an official meeting held in Ankara, Turkey, as part of Al-Ghawil's official visit. Discussions centered on mechanisms for joint cooperation and the development of institutional work, aligned with best international practices.
The agreement includes the implementation of specialized training programs aimed at building the capacity of staff from the Libyan Competition and Anti-Monopoly Council. It also emphasizes the exchange of expertise in investigating anti-competitive practices, as well as monitoring mergers, acquisitions, and economic concentrations.
Both parties agreed to establish a joint technical working group tasked with conducting a comparative study of competition laws and regulations in Libya and Turkey. This initiative aims to leverage the Turkish experience to enhance the legislative and institutional framework in Libya, thereby improving the efficiency of competition law implementation.
The two sides underscored the importance of strengthening communication with the business community, especially Turkish companies operating in Libya. This effort aims to raise awareness of the Competition Law provisions and encourage adherence to fair competition principles, while curbing monopolistic practices and agreements that limit competition.
They also highlighted the necessity for companies engaging in mergers, acquisitions, or any economic concentration within the Libyan market to comply with established legal procedures. This includes prior notification and obtaining necessary approvals from the Competition and Anti-Monopoly Council, in line with applicable legislation.
This cooperative effort is part of the Competition and Anti-Monopoly Council's broader strategy to expand international partnerships and benefit from successful experiences. It aims to enhance the Council's performance, promote transparency, protect consumers, and support an investment environment based on competition and equal opportunities.