Guatemala does not have laws on competition

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

Friday, January 30, 2009

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."



More on this topic

Incentives to Improve Competition

September 2019

In Costa Rica, a bill is in progress that contemplates eliminating fines for the first member of a cartel that recognizes and denounces to the authorities that has engaged in monopolistic practices.

As part of the bills for Costa Rica's entry into the OECD, deputies voted in second debate file No. 21.303, Law strengthening the competition authorities of Costa Rica, reported last August 29 the Legislative Assembly.

Costs of Not Having a Competition Law

August 2019

The lack of a competition law in Guatemala could expose the country to sanctions from the European authorities, since it is a requirement demanded in the regulations of the Association Agreement with the European Union.

Since the end of 2016, the Association Agreement (AdA) required Guatemala to have a law on the matter, since in 2019 a Central American competition authority would have to be created.

Competition Law for Guatemala

June 2012

There is a need to deal with bad business practices by cartels, territorial control and corporate concentration that is preventing the entry of new enterprises.

More competition leads to more economic wellbeing, more jobs and investment, said Miguel Flores Oberland, Federal Commissioner for Competition in Mexico, who lectured recently in Guatemala.

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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