6th Arab Competition Forum

[Video message]

Your Excellency, Mohammed Shia’ Al Sudani, Prime Minister of Iraq,

Excellencies, colleagues, friends,

It is a great honor to address you at this 6th Arab Competition Forum, graciously hosted by the Competition and Anti-monopoly Affairs of Iraq.

What began with a letter of understanding in 2019, has now become a key platform for advancing competition policy and cooperation across the Arab region – with six consecutive forums.

Each year, I take pride in reflecting the continued partnership between UNCTAD, The United Nations Economic and Social Commission for West Asia (ESCWA) and the Organisation for Economic Co-operation and Development (OECD).

Together, we've contributed to a growing body of regional knowledge on competition law and policy.

And yet, despite how far we’ve come, the need for multilateralism today is greater than ever.

Just last year, global growth prospects for 2025 were cautiously optimistic. We estimated 2.7% GDP growth, with potential for an upward revision beyond 3%, driven largely by trade momentum which grew by 3.7% last year.

But recent trade shocks have tempered that outlook. Growth is now projected to slow to just 2.3% in 2025.

At the same time, policy uncertainty has reached its highest level in this century.

This has frozen investment and brought high volatility back into bond and currency markets.

This is not merely a cyclical slowdown but a symptom of systemic uncertainty.

Excellencies,

These dynamics have only emphasized the importance of competition policy.

Competition policy keeps markets open, encourages innovation and ensures that success is earned through merit.

As some trade barriers rise and markets close, it is upon us to ensure that we keep markets functioning as well as possible, especially our own local and regional markets.

Competition policy is fundamental for that.

Fortunately, we are not alone.

Recent years have brought crucial progress in competition law and policy around the world.

In the Arab region, for example, UNESCWA reported a number of countries that have recently updated their competition laws and expanded enforcement mandates.

As a result, the region's overall competition law assessment score improved from "moderate" to "developed" in just three years.

Still, important challenges remain.

There is a need to reduce legal exemptions that weaken enforcement, and to improve transparency in how competition concepts are defined and applied.

We must also strengthen institutional capacities and establish enforcement mechanisms that meet international standards. Without these, even well-drafted laws may fall short in practice.

And especially in a world where markets are deeply interconnected, anti-competitive behavior in one country doesn’t stop at the border. It affects us all.

That is why it is so important that every country has the tools they need to enforce fair competition and protect both consumers and businesses.

This is why international collaboration and technical assistance continue to play a crucial role.

UNCTAD remains committed to supporting this agenda, including through fora such as this one.

Excellencies,

As we look ahead to the 9th United Nations Conference to Review the Set of Multilaterally Agreed Equitable Principles and Rules for the Control of Restrictive Business Practices, which will be held in July in Geneva this year, I invite all of you to bring your regional experience, insights and ambition to this global platform.

Your participation will enrich our collective understanding and strengthen the international framework for competition policy.

In closing, allow me to extend my sincere gratitude to our generous hosts, the Competition and Anti-monopoly Affairs of Iraq, for their exceptional hospitality and organization of this important forum.

My special thanks to Prime Minister Mohammed Shia' Al Sudani and the Government of Iraq for their commitment to advancing competition policy in the region.

I would also like to express my deep appreciation to our long-standing partners, UNESCWA and OECD, whose collaboration has been instrumental in the success of these forums and in promoting competition law enforcement across the Arab region.

Finally, thank you to all participants, experts, and delegates who will contribute their valuable insights and experiences to our discussions.

Your engagement is vital to building a more competitive, innovative, and equitable economic future for the region.

I look forward to our continued cooperation and to witnessing the progress that will undoubtedly emerge from the commitments made here in Baghdad.

Thank you.