Malawi will join the International Community in commemorating the World Competition Day, which is observed annually on 5th December. The significance of this day dates back to 5th December 1980, when the United Nations adopted the international standard for competition laws known as “the Set of Multilaterally Agreed Equitable Principles and Rules for the Control of Restrictive Business Practices” commonly referred to as “the United Nations Set of Principles and Rules on Competition”. Following this development, CUTS International launched a campaign advocating for the celebration of the 5th of December every year as the World Competition Day.
Internationally, World Competition Day will be commemorated under the theme: “Prioritising Socially Sensitive Sectors.” However, Malawi will commemorate the day under a theme: “Role of Competition in Enhancing Economic Recovery.” This choice reflects the country’s recognition of the recent economic shocks following challenges posed by the COVID 19 Pandemic, Cyclone Freddy, and the realignment of the local currency against foreign currencies.
These shocks have led to significant disruptions in Malawi’s markets resulting in price hikes and coordinated efforts among businesses to overcome disruptions in their value chains. Concurrently, concerns have risen regarding various anticompetitive conduct and unfair trading practices, affecting competition and innovation in various sectors.
The main commemoration activity for the day will be a live panel discussion that will be aired on Times Radio and TV on Tuesday, 5th December, 2023 from 6.00 pm. The panelists for the discussion will include the Executive Director of Competition and Fair Trading Commission (CFTC), the Secretary for Trade and Industry, the Director and Chief Executive Officer of the COMESA Competition Commission (CCC), and the President of the Economics Association of Malawi (ECAMA).
As part of the same commemoration activities, the CFTC will also carry out sensitisation meetings for businesses in selected districts of the country with the aim of enhancing awareness and compliance with the Competition and Fair Trading Act.
For more information about this event, please, contact Innocent Helema on +265 880 725 075 or email innocent.helema@cftc.mw.
Lloyds Vincent Nkhoma
EXECUTIVE DIRECTOR