Caribbean Community (CARICOM) national competition authorities are encouraged to co-operate together in the detection and prevention of anti-competitive business conduct. Senior Technical Coordinator at the CARICOM Secretariat CSME Unit, Mr. Philip McClauren, made the comment today while commending the Barbados Fair Trading Commission (BFTC) and the Guyana Competition and Consumer Affairs Commission (CCAC) for establishing a cooperation agreement. The regional official, in a comment to the BFTC says the initiative is a bold one aimed at advancing the enforcement of the rules of competition in the Caribbean Community [CARICOM].
According to Mr. McClauren, the agreement between the BFTC and the CCAC could provide the impetus for other national competition commissions to follow suit and fulfil the mandate of cooperation set out in the Revised Treaty of Chaguaramas. He says this action is being formalized at a time when assistance has been provided by the European Union (EU) to establish such agreements and collaborations with allied agencies.
The BFTC and the CCAC signed the agreement last Friday, 18 September 2020. Such formal arrangements are expected to further advance CARICOM competition law policy and some of the outputs under the projects supported by the EU.