The Guyana Competition and Consumer Protection Commission and the CARICOM Competition Commission, together with the CARICOM CSME Unit and the National Competitiveness Strategy Unit will host a workshop on August 12 at the International Conference Centre on the economic benefits of Competition Policy in Guyana and CARICOM.In a press statement to members of the media, Economist in the National Competitiveness Strategy Unit,NFL Jerseys Outlet, Jonathan Said explained that the application of Competition Policy in each member state,Wholesale Jerseys, including Guyana, is crucial.It was noted that the objective of the Competition Policy is to ensure that the economic benefits of free markets in a single market place are maximised, through supporting free competition by both domestic and regional firms.The Competition Policy acts as the custodian of the free market economy,Cheap NHL Adidas Jerseys, by supervising market structures and consumer interests, and by allowing for redress only in those markets where market failure exists.The economist pointed out that the Revised Treaty of Chaguaramas which established the Caricom Single Market and Economy, and to which Guyana is a signatory also recognised this.“It created the Caricom Competition Commission and obliged each member state to establish a national Competition Commission. To date, only Jamaica and Barbados have established and operationalised their Commissions. Trinidad and Tobago and the Organisation of Eastern Community States are currently establishing their Commissions.”In this regard, the press statement explained that the Government and the private sector have both already endorsed the need for Competition Policy in Guyana.“Together they set it as one of the highest priorities of the National Competitiveness Strategy and they worked together to enact the Competition and Fair Trading Act in 2006 and to appoint four Commissions in 2007 (who were re-appointed in 2009).”However, it was noted that the Commission has been unable to function because its secretariat has not been established.Hence, it has been unable to carry out the activities it is required to under the Legislation and it has been unable to support the Caricom Competition Commission.In order to address this,Cheap MLB Jerseys Authentic, the Ministry of Tourism, Industry and Commerce is currently recruiting staff in order to establish the secretariat of the Commission.According to the statement, while the Competition and Fair Trading Act provides the legislative framework to apply competition and consumer protection policy in Guyana and to govern the conduct of firms in the market place, it fails to address issues such as market structures and consumer protection.“Whilst the Legislation could be amended at a later date to address the former issue, the Government is seeking to address the latter through a Consumer Protection Bill,Wholesale China Jerseys Free Shpping, which is due for enactment by end of 2009.Once it comes into force it will result in the establishment of Consumer Protection Commission, which will function as part of the same Competition Commission, hence bearing the name ‘Competition and Consumer Protection Commission.”It was explained that in both Jamaica and Barbados,Jerseys NFL Cheap, the Competition Commissions have been successful in boosting economic competitiveness by supporting free competition in numerous markets and providing more accurate information to consumers.