Ammon News - Articles of the memorandum of understanding (MoU) signed by Jordan and Oman on competition protection and monopoly prevention fields were issued in the Official Gazette.

The MoU aims to enhance Jordanian-Omani cooperation in the competition protection and monopoly prevention areas on the basis of the principle of mutual interests.

Under the memorandum, the two sides spur cooperation, develop policies and strategies, exchange expertise and best practices of cooperation by implementing specialized studies and joint research in related fields.

The two parties also participate and coordinate in organizing conferences, workshops, and training courses that achieve the two countries' objectives and coordinate on anti-competitive practices committed within their borders, which are viewed harmful to interests of the other country.

In addition, the MoU provides basis to share consultations on all competition protection and monopoly prevention issues, exchange information and expertise produced by international projects and implemented by either party in this regard.

The MoU provides a legal and "institutional" framework that curbs anti-competitive business practices and ensures an "acceptable" level of fair competition in the market.

The memo also opens horizons to exchange expertise aimed to launching awareness programs, reviewing the best practices applied in the related fields in the market and benefiting from advanced technical equipment available to each side.