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Fair Trading Commission commemorates World Competition Day

December 06, 2016

Press Release

Fair Trading Commission commemorates World Competition Day

Tuesday 6th December 2016: Victoria- On the 5th December of every year, Competition Authorities worldwide celebrate the World Competition Day. On this occasion it is important to take stock of the achievements vis-à-vis the arduous task of maintaining a fair and well balanced competitive process whilst enabling all market participants to compete aggressively for consumers in their respective markets.

To commemorate the day, The Fair Trading Commission is holding a workshop at La Carambole Restaurant on the 7th December 2016 from 9:00 am to 12:00noon. The the aim of the Conference is to synchronize all players in the economy, to address the challenges faced by Small Island States such as Seychelles, when implementing or incorporating the principles of fair and sound Competition Process in their organisational functions.

The theme for this year’s Competition Day is “Linkages between Competition and Intellectual Property”. The theme highlights the important questions that emphasizes on the ability to manage the Competition Law which has thus brought the Commission to reflect on its ability to administer the Fair Competition Act, while taking into account the size of our country.

The Seychelles Fair Trading Commission, who is also custodian of the Competition Law, is no stranger to the commemoration of this day. Similarly to other authorities, the Commission recognises the need to highlight such an important day which heightens the effectiveness of a competition regime that has the mandate to tackle any anti-competitive practice that may arise within any market.

In the end, it is imperative to be mindful that an effective competition process which is monitored by a dynamic competition authority produces dividends such as lower prices, more affordable prices, increased choices and better quality of products and services to consumers thus increasing their economic welfare and contributing to the alleviation of poverty.

The FTC has the pleasure to invite the media houses to cover the event. For any clarification please do not hesitate to contact Mr Erol Sophola on 4325250.

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