Competition Law in Guatemala

"The monopoly itself is not the problem, the problem is the abuse that is committed" Erick Coyoy, Minister of Economy.

Thursday, October 7, 2010

The main priorities set by the Minister of Economy revolve around the obligations of the country and the region, the agreements reached with the European Union, which refer to integration of the isthmus and in particular customs and promoting market competition.

In an interview with Minister Coyoy, Business and Industry Magazine says the Minister of Economy discusses the scope of the competition law he promotes.

"There is a commitment to promoting competition in the markets. The region´s challenge is to match national laws in order for the European investor not to find differences between the countries. Guatemala is the only country which has no competition law and therefore, has less time to adjust. At the moment we plan the initiation of an analysis phase, diagnosis and review of experiences from other countries.

What are the basic points to regulate in a Competition Law? Would it be an Antitrust Law? What is sought is to impose limits to prevent abuses in the markets.

More on this topic

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: Finally a Law on Competition?

January 2016

The authorities have until November 31, 2016 to approve a law for the promotion and defence of competition.

The European Union needed to demand a Competition Law in the Association Agreement with Central America in order for Guatemala, the only country in the region not to have rules in this area, to bring the country up to date in this area.

Competition Law in the European Union

January 2013

The Association Agreement with the EU will involve the creation of a regional body for the implementation of regional competition policies.

From the newsletter of the Costa Rica’s Commission to Promote Competition (COPROCOM):

The single market is one of the greatest achievements of the European Union.

Guatemala Reactivates Competition Bill Project

July 2010

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

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".

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