A fair competitive market provides an opportunity for consumers, regardless of business size, to grow. Awareness and compliance with the Competition Order is crucial towards achieving a fair market that can benefit consumers in the long term, while improving consumer well-being. The Executive Secretariat, Brunei Darussalam Competition Commission, CCBD, emphasized the matter in a Dialogue Session with the market businesses, recently.
Also emphasized was the importance of having an awareness of the Competition Order taking into account, traders in the market also offer important services to the community. One of the main objectives of the Dialogue Session is to highlight the importance and benefits of complying with the Competition Order as well as the main prohibitions that have been enforced, namely the prohibition on agreements between two or more traders to set prices, limit supply, make deals collectively, and divide the market. The session also discussed methods of tracking Anti-Competition Agreements, CARTELS. Under Chapter 44, the Competition Order provides for the Relaxation Programme, which is a programme that provides incentives to traders involved in cartel practices to come forward and provide information on such prohibited practices and cooperate fully with CCBD, in exchange for immunity from penalties.
Further information on the Competition Order and Relaxation Programme can be obtained through www.ccbd.gov.bn. Also held were interactive discussions covered matters related to the behaviour of traders in the domestic market and policies to promote competition in the market.
Source: Radio Television Brunei