Minister of Trade Katsonga hails Competition and Economic Regulation week

Ministry of Trade and Industry has commended organizers of the Competition and Economic Regulation (ACER) week for bringing together various players across Africa to discuss pertinent issues in regards to competition regulations.

The conference has been organized by Centre for Competition, Regulation and Economic Development (CCRED), the COMESA Competition Commission and the Competition and Fair Trading Commission (CFTC).

During the conference, participants discuss competition regulation in digital platforms and share experiences on how digital markets in various African countries are regulated both at national and regional level.

Some of the issues include the key elements regulated under the regional laws such as mergers and acquisitions, consumer protection, identifying and prosecuting cross-border cartels, development of a competition framework for the success of the African Continental Free Trade Area (AfCFTA) and suggestions for enhancing regional and national enforcement.

Speaking during the official opening of the 7th Annual competition and regulation week on Thursday at Sunbird Livingstonia Hotel in Salima, Minister of Trade and Industry Mark Katsonga described the forum as an avenue for an informal exchange of experiences and insights on regulation of competition and economic development in Africa.

“Conferences such as this provides traders and other market stakeholders the much needed direction to ensure compliance with relevant competition legislation and policies,” he said.

Katsonga said in every business competition is legal but has to be properly managed and has to work within the allowed framework but greed has necessitated many people to go into unfair competition by doing illegal trading that is not allowed something that needs an urgent action.

Competition and Fair Trading Commission (CFTC) Chairperson Jerry Jana said Malawi is going to benefit from the conference as it brings together different competition authorities with sharp minds to share various experiences.

Jana said the platform will also help Malawians learn what others are doing across africa and once practiced it can make the difference in as far as competition and fair trading is concerned in the country.

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