The New Nation - Internet Edition

BUSINESS REPORT

IFC Bangladesh Investment Climate Fund has been organising a two-day workshop titled 'Competition Policy, Investment and Economic Development in a Globalized Economy' from yesterday at Hotel Sheraton in the city.

This workshop deals with an issue which is of critical importance to the development of the country. At present, Bangladesh does not have a clearly defined competition policy but recently the Ministry of Commerce has prepared a draft Competition Act for Bangladesh.

While the draft is under public consultation, this two-day workshop, which is aligned with the government's initiative to enact a competition law, aims to increase the knowledge and understanding of the role and importance of competition policy and its instruments, in advocating a competitive, dynamic and effective business environment that encourages private sector growth and development.

The workshop is being conducted by Rughvir S Khemani, former Competition Policy Advisor of the World Bank Group, and Professor Fahad Khalil, Professor of Economics at the University of Washington. The experts are looking at key concepts, theories, empirical cases and experience of different countries relating the design and implementation of competition law and policy and its interface with various economic and regulatory reforms.

The workshop is also dealing with issues of anti-competitive practices, structure of markets and some of leading cases that may adversely affect efficient allocation of resources, competition and competitiveness of industries, and the national economy.

A key focus of the workshop is to outline the role and importance of the competition law-policy as it is integral to Bangladesh's economic and regulatory framework.

Such a law or policy is pivotal in fostering private sector led, broad based, inclusive sustainable economic development and improving domestic and international competitiveness.

The participants are mainly from government ministries, industry/trade associations, think tanks and academia, NGOs and other public and private sector entities in order to promote informed debate and economic-policy decisions.