Anik Barua, School of Intellectual Property Rights, Zhongnan University of Economics and Law
ABSTRACT
Competition law is hugely inestimable for market competition-related stakeholders. Bangladesh is rapidly growing in South Asia and also referring as an upcoming ‘Asian Tiger’ with a gross domestic product (GDP) growth of more than 5% in the last six years. Bangladesh has enacted first the Monopolies and Restrictive Trade Practices (Control and Prevention) Ordinance,1970 before the independence from Pakistan but the law has no practical implementation. So, the market has to deal with various anti-competitive wrongdoing such as- cartel, abuse of dominant position, syndicate for price manipulation, and so on, which leads to hampering market efficiency and consumer welfare. Bangladesh Parliament has passed the much-awaited Competition Act, 2012 by repealing the previous ordinance for ensuring a healthy and congenial market and the subsequent establishment of the Bangladesh Competition Commission (BCC). In this paper, the main focuses are trying to understand the present situation of competition, coverage of competition law, and necessary steps to improve from the present situation.
Keywords: competition, competition law, competition commission, anti-competitive agreement.
