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The Peer Review of Competition Law and Policy in Panama, jointly published by the OECD and the IDB, was launched in Panama on 6 December 2010. This report and its recommendations reflect the broad consultations held with key stakeholders in Panama. It was discussed and debated by senior officials of Latin American competition authorities, competition experts from OECD member countries and representatives of international organisations during the OECD-IDB Latin American Competition Forum in Costa Rica on 9 September 2010.
The report sets out recommendations to improve Panama’s competition regime. Changes to government policy and ACODECO’s enforcement and advocacy practices would have a positive impact on Panama’s economic development.
Key recommendations in the Peer Review include:
- increase efforts to fight cartels which are historically pervasive across Panama
- increase the level of fines on companies who break the law
- strengthen public understanding of the importance of competition for making markets work for the benefit of consumers and business
- increase ACODECO’s financial resources to deliver better competition outcomes across the economy.