Published On: Mon, Mar 21st, 2016

Competition law adopted

ParliamentWILLEMSTAD – The Parliament of Curaçao has recently adopted a national ordinance, which should lead to fairer competition. Fair Trade Authority Curacao have to monitor this new national ordinance.

The Minister of Economic Development, Eugene Ruggenaath has removed all doubts of the factions in parliament during the debate about the legislation and supervision, except from the faction of the opposition party MFK.

15 MPs voted in favor, five against. Independent MP Omayra Leeflang was not present during the vote. The MFK has objected to the independent status of the regulator, in which the parliament has little influence. The party of former Prime Minister Gerrit Schotte fears that the office gets too much power.

The new law counteracts calculation of margins or joint price-fixing by the companies. The abuse of monopoly position must also be addressed. The National Ordinance on competition should lead to better prices, higher quality, better service and a wider choice for consumers, according to the Ministry of Economic Development.

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