The Competition and Fair Trading Commission (CFTC) has signed a Memorandum of Understanding (MoU) with the Comesa Competition Commission (CCC) to enable the Malawian body handle cases in the region.
CFTC executive director, Wezi Malonda, and CCC chief executive officer, George Lipimile, signed the agreement on behalf of their institutions on Friday in Lilongwe.
Malonda said the agreement allows CFTC to investigate matters relating to competition, fair trading and protection of consumers in all Comesa countries.
On his part, Lipimile said the MoU will also help the two commissions to compare policy experiences and seek answers to common problems as well as identifying good practices.
He said the agreement will allow the two bodies to coordinate domestic and regional policies besides helping them to avoid inconsistencies in decision making.
Bilateral agreements, said Lipimile, are the predominant methods of achieving a new approach to the economic challenges
“Cooperative agreement creates a linkage between the domestic market of Malawi and the regional market dynamics,” he said.
Lipimile said cooperative agreement strengthens and promotes the competition culture in the Malawian market where the local entrepreneurs can only take advantage of the benefits of the competition regime if it is effectively enforced at the national level.
The CCC is chaired by a Malawian national Mathews Chikankheni.