289 Scenes
PH: DR: ECOWAS / Regional Competitors Authority: Advocacy and consciousness elevating of competitors and client safety legal guidelines in Liberia
The ECOWAS Regional Competitors Authority (ARCC), as a part of its mandate to assist Member States on competitors, held an advocacy and consciousness assembly on legal guidelines associated to competitors and client safety in Liberia, from Could 20 to 22, 2024, in Monrovia, Liberia. . The final word purpose is for Liberia to have standardized, fashionable competitors laws that displays regional and continental frameworks.
The applying introduced collectively key stakeholders comparable to authorities ministries and companies, the Liberian Manufacturing Affiliation, banking or monetary providers, the non-public sector, the Chamber of Commerce and client safety teams with the general goal of discussing and reviewing the provisions present competitors legislation and regulation within the nation, establish gaps and work with authorities and different stakeholders to develop competitors and client safety legislation that successfully addresses competitors enforcement and safety of client rights. The final word purpose is for Liberia to have standardized, fashionable competitors laws that displays regional and continental frameworks.
Konan Simeon KOFFI, Government Director of ARCC, on behalf of the Commissioner for Financial Affairs and Agriculture, Mrs. Massandjé TOURE-LITSE, welcomed all members to the advocacy and consciousness assembly and thanked and thanked the Ministry of Commerce and Enterprise of Scotland. Liberia for being prepared to cooperate with ARCC in organizing this assembly. This exhibits that the joint advocacy and consciousness program on competitors coverage is an instance of the anticipated cooperation between the ARCC and the competitors authorities of the member states, thus reinforcing the regional competitors framework. The Government Director emphasised collaboration between ARCC and nationwide stakeholders to: (i) the mechanism for gathering and sharing data and finest practices, (ii) nationwide possession of the regional competitors framework, (iii) ) stakeholder capability constructing, and (iii) iv) monitoring and enforcement of competitors legislation.
In her welcome speech, Her Excellency Madam Joséphine KRUMAH, Everlasting Consultant of the ECOWAS Fee to the Republic of Liberia, reiterated her deep gratitude on behalf of the President of the ECOWAS Fee, HE Dr. Omar Alieu Touray, the Fee’s dedication to strengthening financial integration and thru the promotion and implementation of competitors and client legal guidelines within the area. This convention will subsequently proceed to boost consciousness of the significance of competitors and client safety, with the actual purpose of offering Liberia with a contest and coverage framework resulting in the creation of a nationwide competitors physique answerable for implement competitors legislation to eradicate anti-competitive practices, thereby guaranteeing the efficient implementation of regional competitors guidelines.
In his opening remarks on behalf of Honorable Amin MODAD, the Minister of Commerce and Business of the Republic of Liberia, Deputy Minister of Commerce, WILMOT REEVES, welcomed all members to Monrovia and thanked the ECOWAS Fee on the whole, and ECOWAS Regional Competitors Authority to undertake the initiative to prepare this advocacy and consciousness assembly with a view to sharing ARCC’s mandate and collaborating with the Liberian authorities for competitors and client coverage and eventually to assist with the institution of a Nationwide Competitors Company.
Acknowledging the very important function these frameworks play in creating vibrant markets, the honorable minister identified that Liberia has launched into a course of to ascertain a nationwide competitors authority and undertake complete competitors and client safety legal guidelines, that might encourage an ecosystem the place innovation thrives, client pursuits. protected and honest enterprise practices are the norm.
The honorable minister recalled that “the world financial system is altering quickly, influenced by technological advances and altering market dynamics and, on this context, Liberia is just not solely an choice to be looking for a well-defined, however crucial, competitors coverage. As rising economies around the globe have proven, efficient competitors legislation is a cornerstone of financial growth. It ensures equity, prevents monopolistic practices and permits small and medium-sized companies to thrive.
The opening statements had been adopted by shows and discussions on the ECOWAS competitors framework, an outline of Liberian competitors legislation and the standing of competitors administration and client safety in Liberia. The assembly mentioned the significance of continued collaboration with stakeholders to boost consciousness on the difficulty of competitors and that the federal government of Liberia will assessment the present competitors legislation to have in mind the regional framework and continental, and specifically the institution of the Nationwide Competitors Authority of Liberia. for the implementation of competitors coverage and client safety. The assembly additionally adopted a proposal for the ECOWAS Regional Competitors Authority to assist Liberia within the technique of reviewing the legislation, and by extension the Liberian Authority to make use of competitors legal guidelines to strengthen the event of Small and Medium Enterprises (MSME) .
Within the following days, the ERCA delegation paid a courtesy go to to the Honorable Minister of Commerce and Business of Liberia and had bilateral working classes with the Ministry of Commerce and Business, some firms, the nationwide requirements laboratory, the Chambers of Commerce Committee of the Legislature Nationwide of Liberia, Bankers Affiliation of Liberia and the Medicines Council. (ECOWAS supply)
ECOWAS/Regional Competitors Authority:
