(CARICOM Secretariat, Turkeyen, Greater Georgetown, Guyana) – The Caribbean Community (CARICOM) Secretariat recently concluded a two-day regional consultation on competition policy to consider instruments for implementation by Member States.
The consultation, which was held 6-7 November, focused primarily on the CARICOM Model Bill on Mergers Provisions which will complement work done to advance the draft regional policy to regulate mergers and acquisitions in the CARICOM Single Market and Economy (CSME).
The engagement was supported by the 11th European Development Fund (EDF) Strengthening Framework for CARICOM Integration and Cooperation Process (SFCICP) Programme.
Participants discussed the framework Memorandum of Understanding (MOU) for cooperation between Member States and sector regulators. This instrument will complement current work on the study to consider the feasibility of the CARICOM Competition Commission (CCC) serving as a national competition authority and a national regulator of utilities for some Member States.
The two-day session concluded with a panel discussion focusing on the challenges of implementing the Community Competition Policy at the national and regional levels. The panel was drawn from CARICOM national competition authorities, the United Nations Conference on Trade and Development (UNCTAD), the Organisation for Economic Cooperation and Development (OECD) and regional and international competition experts from academia and other entities. The Aruba Fair Trade Authority also shared its experience as a small island developing state in the implementation of the rules of competition.
