Minister lauds genuine competition

Traders as well as consumers are the beneficiaries of effective competition, Competitiveness and Communications Minister Censu Galea said.

Speaking during a seminar organised by the Consumer and Competition Division, he said the consumer and competition division did not intend to interfere with businesses that acquired a substantial market share through efficiency and good legal entrepreneurship.

"Competition law and policy aim to safeguard and enhance competition in the market-place.

"As Minister for Competitiveness, I certainly agree that genuine competition is the most effective way to induce companies to keep costs low, to be efficient and to innovate and offer customers a good deal, the best product or service at the best price."

Mr Galea stressed that competition law did not place constraints on efficient undertakings that strive to maintain or increase their market share through legitimate strategies, such as by offering high quality, better after-sales service or fair prices.

The minister noted that over the past years the division put its clout to good use by shielding small firms against abuse by more powerful rivals and guarded consumers by detecting and prohibiting restrictive commercial practices.

The division has also served as a guide for businesses to keep on a legitimate track when adopting business strategies.

On the other hand, the Commission for Fair Trading has pronounced several very important decisions and in the process establishing case law that enabled businessmen to become more familiar with the provisions of the law and to steer away from restrictive agreements or abusing through a dominant position in the market.