Guatemala: Competition law should be pushed through quickly, says economist

Jorge Fantuzzi, a former analyst in Chile’s competition regulator tribunal TDLC, has commented on Guatemala’s pending competition law, pointing out the need for it to be approved by November of this year in order to comply with the Central American country’s commercial treaties with the European Union.

The economist spoke on the different experiences of countries, pointing out that these laws tend to go through a natural process of growth and maturity, and so it’s not necessary to pass a perfect law. However, the law should have the basic elements needed to ensure consumer protection and to promote competition between companies.

Chile passed the region’s first competition laws in 1973, with changes being discussed even now to further modify sanctions. Other countries such as Mexico, Brazil, Colombia and Chile itself have recently passed or reformed their own competition laws in recent years in order to adopt international standards. Mr. Fantuzzi points out that “this law is very necessary. Hopefully the country will be able to meet the deadline set by its international agreements.”

Full content: Pulso

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