FAIR TRADE AUTHORITY CURAÇAO CAN ASSIST EXPORTERS
The Fair Trade Authority Curacao (FTAC) stands for free and undistorted competition and is an independent competition authority. The President of the FTAC, Mr. Alberto (Chos) Romero, supports the initiatives of the Minister of Economic Affairs to promote export. He recommends businesses to take the competition rules into account and to make use of the advisory services that they can get from the FTAC.
Romero thinks that the ‘Economic Zone’ possibilities should be explored. If companies are going to form joint ventures or other forms of cooperation, they should consider the new regulations This basically means that competition between companies should not be hindered, restricted or distorted and that new firms should be able to enter the market without unnecessary barriers.
Companies also benefit from the new competition rules. For example, as customers of other companies they have an interest in lower purchase prices. As a result, they can produce cheaper and increase their chances of exporting. This makes Curaçao a more interesting country for investors.
In a competitive market, companies do their utmost to meet the wishes of consumers. This leads to lower prices, more choice, higher quality and new innovative products and services. This benefits the consumers.
There are certain cases when companies that do not comply completely with the regulations can receive an exemption. For more information they can contact the FTAC. FTAC offers a lot of information on their website www.ftac.cw.