EXAMINING LAW AND POLICY IMPLEMENTATION IN COOPERATION COUNTRIES WITH REFERENCE TO COMPETITION , ARBITRATION AND BANKRUPTCY LAWS
Author(s):
Sankalp Mirani, Shivani Soni
Keywords:
Abstract
Need for the Competition Law develops from the requirement of Fair trade within the market, to forbid firms from taking advantage of their dominant position, to guard buyers and startups from the use of discriminating and destructive practices of corporate giants, to elevate economic development, modernization and economical use of resources. globalization, trade liberalization and agreements have become promoters in driving international organizations like the World Trade Organisation, Organisation for Economic Co-operation and Development, World Bank, International Monetary Fund, and the International Competition Network in persuading nations to implement Competition laws. It is against this background where competition laws have become a necessity, the GCC states have enacted and enforced supervisory frameworks and strategies to handle competition disputes and antitrust encounters. Preceding the beginning of the Covid-19 pandemic Gulf countries had by this time identified the necessity to retreat from their historic dependence on oil production and hence had strived to develop the infrastructure auxiliary to their economies with the intention to invite inward foreign investment. A crucial part of the shift to becoming a more appealing home for investment was the requirement for up-to-date, familiar insolvency regimes, which encompass modern reorganization tools for businesses facing distress. Hence, the competition laws and the bankruptcy laws of the countries of GCC become significant and gain importance. This paper analyses the implementation of laws and policies regarding the competition laws as well as bankruptcy laws in the countries of United Arab Emirates, Saudi Arabia, Kuwait, Qatar, Oman and Bahrain which form the Gulf Cooperation Council.
Article Details
Unique Paper ID: 161096

Publication Volume & Issue: Volume 10, Issue 2

Page(s): 595 - 599
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