Guatemala Reactivates Competition Bill Project

The Ministry for the Economy announced that it will speed up the competition bill that has been in Congress since 2008.

Friday, July 23, 2010

Guatemala is the only country in Latin America without legislation preventing monopolistic practices.

Erick Coyoy, Economy Minister, told Elperiodico.com.gt that, “the association agreement between Central America and the EU sets out that Guatemala must introduce a Competition Law within three years and standardize the legislation with other countries in the isthmus within six".

More on this topic

Guatemala: Delayed Competition Law

December 2016

The standard necessary to prevent anticompetitive business practices is driven by the obligation to comply with the provisions of the Association Agreement with Europe.

The lack of approval given to the draft of the Competition Act, which was read in Congress but is now pending a new discussion session, is affecting the country's image abroad in terms of meeting international commitments, according to a publication by Elperiodico.com.gt.

Guatemala: Draft Law on Competition

May 2016

The bill presented to Congress creates the Superintendency of Competition which will be able to investigate business practices in order to punish them if they are anti-competitive.

From a statement issued by the Ministry of Economy:

The Minister of Economy, Ruben Morales, presented the draft Competition Act to Congress, to regulate Articles 43, 119 and 130 of the Constitution of the Republic, in order to promote economic efficiency and fulfill the commitment made in the Association Agreement with the European Union.

Guatemala In Need Of Competition Law

March 2010

It is the only country in the region that lacks a law to regulate market competition, a requirement for negotiating with the European Union.

The Economy Ministry plans to send this initiative to Congress in the first half of 2010.

From Elperiodico.com.gt: “… the country will have to speed up its passing to comply with this regional commitment. The agreement with the European Union could come into force in 2012”.

Guatemala does not have laws on competition

January 2009

In Central America it is the only country that does not have any legislation on competition

Leonel Diaz says in an article on Prensalibre.com: "The purpose of such a regulation is to prevent monopolies and companies agreeing to set prices".

"There has never been any bill to regulate competition," said Mariano Rayo, president of the Economic Commission of the Legislature."

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