Competition Law And Bangladesh 6 1

Competition Law and Bangladesh -6

ELW 203 ECONOMIC LAWS

Tariquzzaman Khan
FCA, FCS
Adjunct faculty, ICSB

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Competition Law and Bangladesh -6
Concept of competition, Importance of Competition Law/Policy, Prerequisites for a Competition Policy, Restrictive Trade Practices, Competition and Consumer Protection, Mergers, Dominance, Resale Price Maintenance,
Competition Law/Policy in Bangladesh, Bangladesh Competition
Commission (BCC), procedure for investigation/ inquiry by the Monopolies and Restrictive Trade Practices Commission/Competition Commission relating to restrictive, unfair and monopolistic trade practices; globalization of market and consumer protection

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Competition Law and Bangladesh -6
Concept of competition
Rivalry in which every seller tries to get what other sellers are seeking at the same time: sales, profit, and market share by offering the best practicable combination of price, quality, and service. Where the market information flows freely, competition plays a regulatory function in balancing demand and supply.

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Importance of Competition Law/Policy
Economic benefits of competition;
Static Efficiency:Lower prices,Better quality,More choice
Dynamic Efficiency:Efficient allocation of resources
Management, processing and technological improvements
Need for competitive infrastructure;
INFRASTRUCTURE-Transport, Banking,Insurance
UTILITIES-Energy, Telecoms, water.
DISTRIBUTION-Large Distribution Chains, Global Importers
IMPORTANT SECTORS FOR LDCs:Tourism, Mining, Agriculture
Developing countries suffer most from anti-competitive practices; inadequate infrastructures-island, land-locked states poor communications lead to segmented markets and local monopolies low capital formation-high interest rates and lack of entreprise culture lead to state monopolies & inefficiencies assymetry of information-consumers unaware of rights total lack of competition culture

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Importance of Competition Law/Policy –(Contd.)
They need to be complemented by