CUL-DE-SAC FOR ANTI-COMPETITIVE FIRMS

MBABANE – Anti-competitive trade practices by giant companies could soon be eliminated in the kingdom. This could be courtesy of the Swaziland Competition Commission (SCC) which has signed a Memorandum of Understanding (MoU) with the Taiwan Fair Trade Commission (TFTC).

The two competition authorities stand to provide and accord assistance to each other in core competition law matters among which will be; investigations of behaviours which violate competition laws in the respective legislation of the competition authorities; enforcement of competition legislation; related experience sharing which could cover anti-competitive trade practices; and the determination of strategic and tactical aspects of competition policy when requested.

The Commission’s Chief Executive Officer (CEO), Thabisile Langa, travelled to the Republic of China on Taiwan, on behalf of the commission, and made the historical connubial of the two competition authorities.
Present to witness and grace the signing ceremony was Ambassador to Eswatini in Taiwan Thamie Dlamini.

The signing of the MoU was driven by both competition authorities’ desire to promote cooperation in the field of competition law enforcement and policy. Both competition authorities share a common view that enforcement of competition law was not only critical to the development of the economy but also of great importance to the efficient operation of the markets falling under their respective jurisdictions.

Effective

Having acknowledged the role of competition law and the dynamic role it plays in the effective development of the economy and the importance of a sound, effective enforcement competition law and policy mechanism, it was without doubt that competition law remained the core fundamental prerequisite for the efficient and effective functioning of the markets.

Langa pointed out that the commission and TFTC realised that in order to ensure effective enforcement it was necessary to cooperate with other competition authorities especially in cases that carry with them elements of cross border effects.

The MoU, signed on December 11, 2018, was intended to boost the bilateral relations on competition law and policy matters between the commission and TFTC, and to establish as well as to strengthen the relationship with mutual cooperation and support. 

The MoU would also ensure that the two competition authorities were able to share their experiences concerning projects in the field of raising awareness of competition law and policy (competition advocacy).

The commission and the TFTC, being experts in matters of competition law and policy, acknowledged that it was crucial that they have a cooperation agreement through which more efficient enforcement of competition laws and be achieved, since both competition authorities have the duty to enforce and to encourage competition in the international community.

Realises

“The commission realises that competition law is a very significant tool for promoting economic growth and consumer welfare. As such the MoU will contribute positively towards improving the effectiveness of competition law enforcement within the respective jurisdictions,” Langa said.

The MoU was based on principles of equality and mutual benefit, and stresses the role of competition law and policy in the effective development of the economy. Furthermore, the MoU aims to create favourable conditions for the development of bilateral relations.

Possible

The signing of the MoU was made possible as a result of the relationship that the Kingdom of Eswatini shares with the Government of the Republic of China on Taiwan.

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