APEC 2018 Business Featured News

ICCC brings concerns affecting Healthy Competition to APEC roundtable

By Theckla Gunga-EMTV, Port Moresby

The Independent Consumer and Consumption Commission (ICCC) is seeking assistance from the APEC Committee to change mandatory laws for business acquisition in the country.

ICCC is taking part in discussions on APEC member countries’ Competition Policy and Law Group Meeting.

Discussions in this group are based on creating and implementing strategies to promote healthy competitions in economies.

The three day discussions on Policy Competition began on Thursday with ICCC representing Papua New Guinea in these talks.

Emmanuel Aura, is ICCC’s Manager that oversees merges and acquisitions.

He explained that through the meeting, ICCC will be seeking advice from APEC Secretariat on how to get companies to operate within PNG Laws.

This is to prevent monopolies and ensure a safe competition amongst service providers or manufactures.

The work of ICCC is to regulate the prices of goods and services in the country.

But it works with other government bodies to carry out its functions.

Such international meetings are opportunities for ICCC to learn from experiences faced by developed economies and improve.

The current challenge ICCC now has is getting the policies mandated it can use its powers under its ACT to create a healthier economy.

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