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Policy think tank calls for passage of Competition Bill

Accra, Dec 06, GNA –
A research and an advocacy policy think tank, CUTS Ghana, has called on
government to prioritise the passage of the Competition and Consumer Protection
Bills into Laws to protect producers and consumers alike.

It said even though
passing those bills into laws would not address all the economic woes, it would
ensure efficient allocation of resources, effective functioning of the market
by removing barriers to entry, provide set of rules for market players for a
level playing field and protect both consumers and producers.

This was in a
statement issued by Mr Appiah Kusi Adomako, the Country Director for CUTS
International and copied the Ghana News Agency.

It explained that
even though Parliament in January this year listed the Competition and
Fair-Trade Practices Bill (2019) and the Consumer Protection Bill among the
numerous bills to be considered, they were yet to be tabled before the House
for consideration.

It added that Ghana
signed, ratified and the hosting of the Africa Continental Free Trade Area
(AfCFTA) Secretariat, and with the continent becoming a single market, it was
important government ensured the passage of the bills to protect Ghanaian
businesses from anti-competitive conducts from foreign players.

“Competition
Laws are key components of every country’s industrial policy. Countries that
have strong markets coupled with innovation and value for goods and services
are those with competition laws. Even, China which used to be a command-based
economy has a functional competition laws to ensure that the level playing
field is even for both state-owned and private owned enterprises.”

“In markets
with sufficient conduct rules, consumers and market players are protected
against conducts that will distort the well-functioning of the market.

“Where no such
law exists, there is the tendency that market players competing against each
other can meet to agree on prices, split the market so that they do not compete
among themselves or even reduce output so as to raise prices and these could
collapse competition and lead to exploitation of consumers,” it said.

World Competition
Day is celebrated on December 5 each year.

The theme for this
year is “Ensuring Competition in Increasingly Online World.”

GNA

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