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Ecuador is Set to Pass First Antitrust Law, But is it Clear Enough?

Article Summary:

Ecuador is set to pass its first Antitrust Law and there is concern amongst businesses who state the new antitrust law has a number of “ambiguities” that must be specified in the regulations. Meanwhile, governmental officials say the law imposes no price, just removes entry barriers for new suppliers of consumable products.

Photo Credit: America Economia

Original Article Text From America Economia via Google Translate :

Ecuador: Employers Demand The Socialization Of Antitrust Law

Businessmen meeting in the coastal city of Guayaquil, began the process of socialization and the creation of proposed regulations for the Markets Control Act (AMA).

The National Secretariat of Planning and Development (Senplades) has prepared a draft regulation, confirmed the Secretary of Competence and Consumer Affairs, Teresa Lara.

The deadline for submission of the document expires in April, so that employers do forums to socialize the standard and how it should be regulated for its implementation.

However, the essence of positive law is based on the experience of countries like Chile, which have a similar law for 30 years. The legislation has helped to attract new investment, the entry of new firms and the only beneficiaries are the consumers, the agency said Andes, Maria Elina Cruz, director of the center of Competition of the Catholic University of Chile.

For the expert the law imposes no price, just remove barriers to entry for new suppliers of quality services for the consumer to choose. He specified that competition from market alone empties into bring prices down, and the State what it does is facilitate legally the elimination of monopolies.

He explained that in his country, for example, were the first in Latin America to have cheap rates for long distance calls. He recalled that once the costs down as much as 100%, with the application of the law. However, as the president of the Guayaquil Chamber of Industries, Henry Kronfle, there is concern because they believe that antitrust law has a number of “ambiguities” that must be specified in the regulations.

Faced this poses a transition process for entrepreneurs receive training. Emphasized that there that preventing any type of bad practice, but with a due knowledge. “I can break the law and commit malpractice by omission, or so I did not do, or what you can do by law. There so much ambiguity and there is concern by that, “said the entrepreneur.

Meanwhile, Under Secretary of Competence and Consumer Affairs, Teresa Lara, was completely open to all sectors will contribute to developing a consensus rule.

Link to Original Article:

From America Economia

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