Guatemala: First steps towards new Competition Law

Guatemala’s Ministry for the Economy has hired legal firm Integrum in order to draft a new Competition Law for this Central American country. The goal is to establish the law by November this year in order to fulfil a set of trade agreements and commitments reached with the European Union.

The Association Agreement with the EU imposes the obligation on Central American countries to implement Competition Legislation within the first three years of their joining. “Guatemala is the only country in the region that lacks said rules. Because of this, it has a limited time to fulfil its commitment” said Javier Zepeda, Executive Director at Guatemala’s Chamber of Commerce.

Alejandro Williams, Vice-minister for Competition and Investment, has said that Integrum will be in charge of drafting a technical basis for the law, which will allow President Jimmy Morales’ administration to analyse and discuss the initiative with different actors and groups.

Full content: El Economista

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.