Guyana’s Competition and Consumer Affairs Commission (CCAC) and the Barbados Fair Trading Commission (BFTC) have signed an agreement to formalise and advance cooperation between the two agencies.
Director of CCAC, Ms. Dawn Kush, and Chief Executive Officer of the BFTC, Ms. Sandra Sealy signed the MoU during a virtual meeting held on Friday.
Speaking on behalf of the Barbadian agency, Director (ag) of Fair Competition Division Dr Troy Waterman, said the agreement would formalise an existing working relationship and allow collaboration “in the exchange of information and expertise.”
Meanwhile, Ms. Kush noted that her agency was bound by Article 170 of the Revised Treaty of Chaguaramas to “establish and maintain institutional arrangements and administration decisions to enforce competition law.” The MOU will help achieve that goal.
According to Dr. Waterman, the two agencies will be able to facilitate each other’s mandate “in terms of exploring, ensuring, and monitoring business activity within our respective jurisdiction, whether it be investigations…or just simple research in terms of business conduct to ensure that there is free and fair and unfettered competition within our respective jurisdictions”.
Both agencies committed to the continued enforcement of the competition laws and to work together when necessary to ensure a level playing field.