Guatemala In Need Of Competition Law

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

Tuesday, March 2, 2010

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”.



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: 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.

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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