Competition Policy and Sector-Specific Regulation: Complementary or Irreconcilable?

May 13th, 2025    |   Related To: Fair Trading Commission

The Fair Trading Commission (“the Commission”) hosted its Fifth Annual Meeting with Key Regulators in Trinidad and Tobago on the 30th January, 2025 under the theme “Competition Policy and Sector-Specific Regulation: Complementary or Irreconcilable?”.

In providing welcome remarks, the Commission’s Chairman, Dr. Ronald Ramkissoon examined the interplay between competition policy and sector-specific regulation in Trinidad and Tobago and discussed their complementary roles in fostering fair and efficient markets. Dr. Ramkissoon emphasized that while competition policy fosters fair practices across all sectors, sector-specific regulation is crucial for addressing the unique challenges of individual industries. He further noted that the key challenge for regulators is finding the right balance between these approaches in order to ensure that sector-specific needs are met while maintaining the overarching principles of competition and fairness.

Presentations were subsequently delivered by representatives from the Office of Procurement Regulation (OPR), the Ministry of Energy and Energy Industries (MEEI), the Telecommunications Authority of Trinidad and Tobago (TATT), the Trinidad and Tobago Bureau of Standards (TTBS) and the Intellectual Property Office (IPO) which highlighted their functions, the challenges with respect to their respective regulatory frameworks while also providing updates on the work of the respective agencies.

The Commission’s Executive Director, Mr. Bevan Narinesingh subsequently delivered a comprehensive presentation highlighting the role of Competition Policy and Sector-specific regulation and the synergies between the two approaches. Further, he provided ways in which regulatory bodies can maintain their independence and objectivity while developing frameworks for collaboration.

Mr. Narinesingh also provided an update on the TTFTC’s work and achievements over the past year in areas such as merger review, market studies and public outreach while at the same time identifying the challenges frequently encountered in the Commission’s operations.

Other regulators, agencies and Ministries in attendance included representatives from the Ministry of Trade and Industry, the Central Bank of Trinidad and Tobago (CBTT), the Environmental Management Authority (EMA), the Regulated Industries Commission (RIC) and the Trinidad and Tobago Special Economic Zones Authority (SEZA).