SUNBIZ

Koya Lauds Regional Cooperation

  The role of Commerce Commission in small island developing states is seen as a contributor to economic growth says, Minister for Industry, Trade, Tourism, Land and Mineral Resources, Faiyaz
11 Mar 2017 11:00
Koya Lauds Regional Cooperation
From left, yesterday at the closing of the Samoan delegation’s visit: Deputy Secretary General for the Pacific Islands Forum, Andie Fong Toy, Minister for Industry, Trade and Tourism Faiyaz Koya, European Union Head of Cooperation Christoph Wagner and chief executive officer of the Fiji Commerce Commission Joel Abraham.

 

The role of Commerce Commission in small island developing states is seen as a contributor to economic growth says, Minister for Industry, Trade, Tourism, Land and Mineral Resources, Faiyaz Koya.

Mr Koya made this comment at the closing ceremony of the scoping mission from Samoa in Suva yesterday.

He thanked the Samoan delegation and the Fijian Commerce Commission on the successful completion of the scoping mission.

He also applauded the Samoan Government for taking the step to provide a mechanism to protect consumers and also regulate competition in the marketplace.

“I hope you have been able to gather as much information as possible to prepare you for the implementation of the Consumer Protection and Competition Act,” Mr Koya said.

Mr Koya said the Commerce Commission drove efficiency in business operations, and ensured that players were not abusing their power or dominance in the market.

“I would also like to stress that the role of Commerce Commission in Fiji and likewise in Samoa also includes consumer protection,” Mr Koya said.

He said adequate mechanism was important for instilling confidence of investors.

“With this view in mind, the scoping mission by Samoa was to learn from the Fijian experiences and lessons on how the Fijian Commerce Commission was formed and the how it operates,” Mr Koya said.

He said the juncture also acknowledged the support of European Union funded by the Pacific Integration Technical Assistance Project.

“As mentioned by the Fijian Commerce Commission chairman and the permanent secretary during the opening that regional cooperation in the area of Competition Policy will allow for consistency of laws across the region,” Mr Koya said.

He said it was important to emphasise that Pacific region was becoming more integrated with increase intra-regional trade and investment.

“Therefore, it is important that there is regional collaboration and cooperation in terms of competition policy.

“And therefore, programmes, such as scoping mission, peer review of laws and policies or twinning will lead to consistency in competition policies and best practices across the region.”

Edited by: Ivamere Nataro



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