Competition law to 'help remove unfair practices'
Wednesday, 12 August 2009
FE Report
An international expert said Tuesday a competition law will help remove unfair practices and create a better business environment.
R Shyam Khemani, adviser to 34 countries on the law, said though Bangladesh like many other countries has anti-competitive elements, an effective competition law and policy will benefit all - consumers and businesses.
The effective competition law and policy will also help improve domestic and international competitiveness, broaden participation in the economy and alleviate poverty, he added.
Dr Khemani was responding to queries from participants at a workshop on `competition law: why is it important for my business," at the Dhaka Chamber of Commerce and Industry (DCCI) auditorium on Tuesday.
DCCI and Bangladesh Investment Climate Fund (BICF) organised the workshop with DCCI president Jafar Osman in the chair. Programme Manager BICF Martin Norman also spoke.
Dr Khemani pointed out that industrial characteristics like high level ownership concentration, and lack of market for corporate control, under-developed equity-debt markets, conglomeration, and close government-business relations are affecting the country like many others.
The success of the law depends on the performance of the competition commission and institutional capacity to identify and deal cases, he added.
"The commission whether it is formed by the government or private sector will get its success if expert groups could identify anti-competitive practices in business and act as force group," he said.
Dr Khemani also former World Bank advisor said the commission has the capacity to deal with the cases by simply registering or investigating, holding hearing as well as giving ruling and resolving.
"It is a complaint driven process with checks and balances," he said.
He said the law is to protect and promote competition in order to foster economic efficiency and consumer welfare preventing anticompetitive business conduct or situations of 'market power' that "appreciably adversely effect competition.
"The competition law will not only serve business, it will also help generate employment, entrepreneurs, create opportunity for big, small and medium enterprises and foster technological change," he said.
An international expert said Tuesday a competition law will help remove unfair practices and create a better business environment.
R Shyam Khemani, adviser to 34 countries on the law, said though Bangladesh like many other countries has anti-competitive elements, an effective competition law and policy will benefit all - consumers and businesses.
The effective competition law and policy will also help improve domestic and international competitiveness, broaden participation in the economy and alleviate poverty, he added.
Dr Khemani was responding to queries from participants at a workshop on `competition law: why is it important for my business," at the Dhaka Chamber of Commerce and Industry (DCCI) auditorium on Tuesday.
DCCI and Bangladesh Investment Climate Fund (BICF) organised the workshop with DCCI president Jafar Osman in the chair. Programme Manager BICF Martin Norman also spoke.
Dr Khemani pointed out that industrial characteristics like high level ownership concentration, and lack of market for corporate control, under-developed equity-debt markets, conglomeration, and close government-business relations are affecting the country like many others.
The success of the law depends on the performance of the competition commission and institutional capacity to identify and deal cases, he added.
"The commission whether it is formed by the government or private sector will get its success if expert groups could identify anti-competitive practices in business and act as force group," he said.
Dr Khemani also former World Bank advisor said the commission has the capacity to deal with the cases by simply registering or investigating, holding hearing as well as giving ruling and resolving.
"It is a complaint driven process with checks and balances," he said.
He said the law is to protect and promote competition in order to foster economic efficiency and consumer welfare preventing anticompetitive business conduct or situations of 'market power' that "appreciably adversely effect competition.
"The competition law will not only serve business, it will also help generate employment, entrepreneurs, create opportunity for big, small and medium enterprises and foster technological change," he said.