The UAE is prohibiting companies from offering or applying very low prices for production, transfer and marketing with a monopolistic approach to drive other companies out of competition. The new law defines competition as the act of conducting economic activities based on market mechanisms, but not such mechanisms that harm trade, development and consumer interests. This was aimed at ensuring fair competition and prohibition of monopolistic approaches for all companies and also protecting consumers’ rights in the country. The law will also regulate mergers and acquisitions (M&As) in the local market.
