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CHALLENGES OF A COMPETITION REGIME IN A SMALL DEVELOPING COUNTRY: A BARBADOS CASE STUDY Presented By: Ms. Michelle Goddard Chief Executive Officer Fair Trading Commission
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Fair Trading Commisison2 Competition Policy and Small Economies Definitions of small economies PopulationPopulation GDPGDP Concentration RatiosConcentration Ratios Barbados 432 sq km432 sq km 264,000 population264,000 population GDP US$2,600.4 millionGDP US$2,600.4 million
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Fair Trading Commisison3 Drivers of Competition Framework for Barbados Domestic Trade Reform Programme Regional Agreements e.g. Caricom Single Market and Economy, FTAA
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Fair Trading Commisison4 Fair Competition Act 2002-19 Comprehensive legislation including: Anti-Competitive Agreements Mergers Abuse of Dominance Interlocking Directorates
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Fair Trading Commisison5 Enforcement Challenges
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Fair Trading Commisison6 Institution Building – Fair Trading Commission Role and Functions Utility Regulation Consumer Protection Fair Competition Structure Part-time Commissioners 28 members of staff across functions Significant Financial and Human Resources Constraints
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Fair Trading Commisison7 Other Challenges Limits of domestic regime and extra territorial enforcement Tension between promotion of domestic rivalry and desire to achieve international competitiveness – merger control Cultural characteristics of small economies Promoting competition advocacy
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Fair Trading Commisison8 Conclusion “Can small developing countries with significant resource constraints really develop effective competition regimes?”
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