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Published On: Tue, Sep 12th, 2017

The Fair Trade Authority Curaçao is now a fact

Alberto-Chos-RomeroWILLEMSTAD - The Fair Trade Authority Curaçao (FTAC) is now a fact. The FTAC is responsible for supervising compliance with the Regulation under the Country Ordinance on Competition (P.B. 2016 no.16). To this end, the FTAC has gained wide scrutiny and enforcement powers. Companies that are being investigated are required to cooperate.

Alberto (Chos) Romero, FTAC chairman: “In recent months, we have made all preparations to carry out our task. We have already started providing information so companies can know what the new rules are. We will continue with this for a while.”

Companies that have made restrictive agreements may in some cases request an exemption if the benefits outweigh the disadvantages. Romero: “If companies do that before October 1, they can benefit from a transitional arrangement. They are not therefore in violation until a decision on the application for the exemption has been made.”

The FTAC will start its consultation with stakeholders in the coming months. They can indicate to the FTAC where there are competition concerns. The FATC will use this information when setting up its annual agenda.

Companies and their advisors who have questions about the new rules and how the FTAC explains this may visit with the FTAC. The staff is happy to help them. More information can be found on the FTAC website, www.ftac.cw.

Photo: Alberto Romero

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