1. CHALLENGES OF A COMPETITION REGIME IN A SMALL DEVELOPING COUNTRY: A BARBADOS CASE STUDY Presented By: Ms. Michelle Goddard Chief Executive Officer Fair Trading Commission

2. Fair Trading Commisison2 Competition Policy and Small Economies  Definitions of small economies PopulationPopulation GDPGDP Concentration RatiosConcentration Ratios  Barbados 432 sq km432 sq km 264,000 population264,000 population GDP US$2,600.4 millionGDP US$2,600.4 million

3. Fair Trading Commisison3 Drivers of Competition Framework for Barbados Domestic Trade Reform Programme Regional Agreements e.g. Caricom Single Market and Economy, FTAA

4. Fair Trading Commisison4 Fair Competition Act 2002-19 Comprehensive legislation including:  Anti-Competitive Agreements  Mergers  Abuse of Dominance  Interlocking Directorates

5. Fair Trading Commisison5 Enforcement Challenges

6. Fair Trading Commisison6 Institution Building – Fair Trading Commission Role and Functions  Utility Regulation  Consumer Protection  Fair Competition Structure  Part-time Commissioners  28 members of staff across functions Significant Financial and Human Resources Constraints

7. Fair Trading Commisison7 Other Challenges  Limits of domestic regime and extra territorial enforcement  Tension between promotion of domestic rivalry and desire to achieve international competitiveness – merger control  Cultural characteristics of small economies  Promoting competition advocacy

8. Fair Trading Commisison8 Conclusion “Can small developing countries with significant resource constraints really develop effective competition regimes?”