Peru: Government seeking to reinforce competition laws

Peru’s government has issued a statement, whereby it considers it necessary to modify the current Law of the Repression of Anticompetitive Behaviour, with the goal of optimising the work of the various authorities as they investigate and sanction conducts which unduly restrict the free workings of a competitive market.

The move will also seek to streamline procedures for market studies, aimed at promoting the elimination of unjustified restrictions to commerce. The statement further asserts that all modifications will be aimed at maximizing the efficiency of the country’s competition policies.

The moves will focus on improving cartel detection and engagement. In particular, the move will tighten laws against horizontal agreements seeking to rig prices or other commercial conditions, as well as tackling exclusivity agreements on customers, suppliers or geographical areas, or coordinating their positions (and abstentions) from public contests. Peru’s INDECOPI, the main competition regulator, will be strengthened in its ability to enforce corrective measures to restore the competitive process, including ordering a full stop to economic activities.

Source: Andina.com

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.