Egypt's current account gap narrows, but overall BoP records deficit    Egypt's PM reviews debt reduction strategy, eyes more private investment    Egypt hosts international neurosurgery conference to drive medical innovation    Egypt, India discuss expanding industrial, investment partnerships    World Bank proposes Egypt join new global health initiative    Egypt's EDA discusses Johnson & Johnson's plans to expand investment in local pharmaceutical sector    I won't trade my identity to please market: Douzi    Sisi sends letter to Nigerian president affirming strategic ties    Egypt welcomes 25-nation statement urging end to Gaza war    Egypt, Senegal sign pharma MoU to unify regulatory standards    Egyptian pound ticks down in early Tuesday trading    Famine kills more Gaza children as Israel tightens siege amid global outrage    Kuwait's Crown Prince, Egyptian minister discuss strengthening cooperation    Egyptian Drug Authority discusses plans for joint pharmaceutical plant in Zambia    Egypt's FM seeks deeper economic, security ties on five-nation West Africa tour    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt foils terrorist plot, kills two militants linked to Hasm group    Egypt, Somalia discuss closer environmental cooperation    Egypt exports 175K tons of food in one week    Giza Pyramids' interior lighting updated with new LED system    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, Uruguay eager to expand trade across key sectors    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



ECA's accusations contradict CAPMAS reports: Oriental Weavers
Company intends to appeal decision to refer it to prosecution on charges of monopolistic practices
Published in Daily News Egypt on 19 - 08 - 2015

The Oriental Weavers Company plans to raise a grievance with influential quarters, including the cabinet, against the Egyptian Competition Authority's (ECA) accusations Monday of monopolisation.
The ECA's issued decision accused the company of monopolistic practices and referred it to the general prosecution, according to statements by Oriental Weavers' Chairman, Salah Abdel Aziz, to Daily News Egypt.
According to Abdel Aziz, the company will submit documents to the Prosecutor General that refute the accusations against them. He added that the ECA report, accusing the company of controlling 90% of the mechanical carpet market during the inspection period, contradicts the latest reports by the Central Agency for Public Mobilization and Statistics (CAPMAS).
The CAPMAS report, according to Abdel Aziz, stated that Oriental Weavers has only 58% of sales, while 25% of the market sales went to imported carpets, in addition to 17% to other local producers.
Mona El-Garf, ECA Chairperson, said in a press statement that the Board of Directors voted unanimously agreeing on the breaches committed by Oriental Weavers group.
El-Garf added that the ECA study proved that Oriental Weavers had made exclusive agreements with a number of mechanical carpet distributors not to distribute the products of any other competing companies. This, in turn, deprives rival companies from distributing their products freely in the market. She explained that this violates Article 8, Clause C of the Protection of Competition Law.
Abdel Aziz defended his company, saying that Oriental Weavers had agreements with local distributors before the competition protection law was issued in 2005. According to Abdel Aziz, the company's sales strategy changed following the adoption of the law, and that the recent contracts signed with distributors in 2012, did not include this item.
He added that the local market has yet to become the main outlet for the sale of Oriental Weavers products in order for the company to seek a monopoly. The company is successfully marketing 65% of its production in foreign markets.
Abdel Aziz also questioned the reasons behind the decision against the company being taken at this time. The company is currently pressing complaints to the Customs Authority regarding the smuggling of large quantities of carpets to Egypt, amounting to approximately 680m sqm last year.
The law for competition protection had seen amendments in 2014, adding a fine of EGP 300m against monopolistic practices.
The price of the Oriental Weavers Company's share dropped by 2.5% on Wednesday to reach EGP 9.75


Clic here to read the story from its source.