Cabinet Approves $13 Million for Community Competition Commission

Cabinet has given approval for the government to contribute $13 million towards the first year expenses of the Community Competition Commission, which will be established in November.
Speaking at the weekly post-Cabinet press briefing yesterday (Oct. 30) at Jamaica House, Industry, Investment and Commerce Minister, Karl Samuda said the sum will cover Jamaica’s contribution for the period October 2007 to March 2008.
“It is an expensive contribution but one that is very important as it protects the interests of all trading partners within the CARICOM Community,” Minister Samuda said. The Community Competition Commission is a key institution of the CARICOM Single Market and Economy (CSME). It will administer and enforce the Community Competition Policy to ensure that the benefits expected from the establishment of the CSME are not frustrated by anti-competitive business conduct.
It will also play a vital role in maintaining competition and enhancing consumer protection in regional markets.