The highest representative of ProCompencia referred to the effects of the entry into force of Law No. 42-08, on Defense of Competition

(Santo Domingo, February 22, 2017). As part of its luncheon-conference program, the American Chamber of Commerce of the Dominican Republic (AMCHAMDR) held its second meeting of 2017, with the participation of Yolanda Martínez, President of the Board of Directors of the National Commission for the Defense of Competition (PROCOMPETENCIA).

Prominent figures from the country's business and political sectors gathered this Wednesday, February 22, in the Grand Ballroom of the Sheraton Hotel to discuss the "Effects of the Entry into Force of the Competition Law," under the direction of the chairwoman of the Board of Directors of this regulatory body for goods and services.
Opening the event, William Malamud, Executive Vice President of AMCHAMDR, addressed the similarities between free trade and the Competition Act, emphasizing that both aspects have the same objective: maximizing consumer welfare through competition.

During his remarks, Gustavo Tavares, President of AMCHAMDR, emphasized the importance that trade agreements have had in the Dominican Republic's economic development. "Over the past twenty years, the Dominican Republic has had one of the most dynamic levels of economic growth in the Western Hemisphere, driven largely by trade and foreign direct investment. This growth would not have been possible without a legal and regulatory framework that provides the protections and predictability that economic agents need within the context of a global market," Tavares emphasized.

He also said that for the country to continue producing wealth and jobs, it needs to be connected to global supply chains and global markets. According to Tavares, competing in the global market requires clear rules, as that's what trade agreements are all about.

In her presentation, Yolanda Martínez, President of the Board of Directors of the National Commission for the Defense of Competition, affirmed that the Dominican government has created the platform for fair and healthy competition, and that ProCompetencia is therefore operating under the full force of Law No. 42-08. "It is up to the business community to assume its role and adopt more and better practices and file the corresponding complaints to create a climate of free competition in the different national markets," Martínez stated.

She also spoke about the participation of economic agents in the development of free competition in the Dominican Republic. "The full management of ProCompetencia is now a reality. Now, it is the turn of economic agents to do their part to properly exercise free competition in the country," stated the highest representative of ProCompetencia.
The official emphasized that ProCompetencia's purpose is to evaluate markets, not individual companies, and added that this organization is ready to fully promote and defend free competition and continue its progress toward strengthening its operational and institutional management.