
PRESIDENT Rupiah Banda has said Government will review the competition policy in line with the National Development Plan and other business reform programmes to reduce the cost of doing business in Zambia.
Mr Banda said the evaluation of the competition policy according to the National Development Plan would make the country more competitive regionally and internationally.
“I am sure that our efforts in the business reform programme which include trade and competition will enable Zambia achieve its Vision 2030 of becoming a middle-income country,” Mr Banda said.
In a speech read for him by Commerce, Trade and Industry Minister Felix Mutati during the UNCTAD conference on Trade and Competition Policy in Lusaka yesterday, Mr Banda said the role of the competition authority in ensuring equitable access to wealth for all citizens was critical for both economic and social development.
President Banda said there was need to have a system of policy monitoring and evaluation of competition law enforcement in the country.
“I do understand that almost all the countries in the southern region have competition laws and institutional frameworks or are in the process of doing so. I am also aware that there is growing need for collaboration in the enforcement of competition laws,” he said.
Mr Banda noted that competition and consumer protection were important pillars of any result-oriented development initiative hence the role of Government and key stakeholders such as donors and other cooperating partners.
Mr Banda said technical assistance to the developing competition authority was important to ensure that they understand not only what but also how to achieve the objectives of the competition policy on the ground.
He observed that for a country to develop, there was need to trade with other countries of which success in trade was dependent on how a country uses its competitive advantages.
Mr Banda explained that this could not be achieved if the domestic economy from which export goods originate was not a hub of fair competition.
He said it was not possible to attain a sustainable trading system where the trade environment was uncompetitive for fair growth and development of business.
It is for this reason that countries need to have a sound legal system to deal with all matters that would adversely affect trade within their domestic economies themselves before they can reasonably deal with external trade disputes and gain from the same.
President Banda said economic growth in a market economy was based on a competitive environment, which prevents abuse in the market and ensures the production of quality goods and services.
“We encourage large firms to come into our markets and there is also need for our governments to support micro, small and medium size business along side large firms,” he said.
[Times of Zambia]