Competitive Market Environment and Implementation Mechanism of Competition Law in Bangladesh: Lesson from Other Countries

Abstract

Competition law aims at ensuring consumer welfare, interest and sound competitive market environment by restricting anti-competitive practices like abuse of dominant position, price setting by agreement, deterring supply, business syndicalism, and so on. The market of Bangladesh is a bit far from competitive environment. However, National Parliament of Bangladesh passed the desired competition law on July 2012 to prevent such malpractices. A suitable implementation framework of competition law and a strong and independent competition commission can make an antitrust regime more effective and dynamic in a practical sense. Along with other challenges the proper coordination with other concerned policies and departments is also inevitable and obligatory for the sustainable implication of the law. The competition act of Bangladesh mandates the establishment of Bangladesh Competition Commission (BCC) but it is not established yet in the country. A significant number of economies have started their competition regime and made success stories in terms of the implementation and inducing consumer welfare. Therefore, the lesson from such an effective competition regime can be guidelines for sound implementation of the antitrust law of Bangladesh. The Government itself, consumer associations, and member of business communities should step forward to create a competition culture in Bangladesh.