SAWT BEIRUT INTERNATIONAL

| 26 November 2022, Saturday |

Will abolishing exclusive agencies open the door for fair competition?

Few companies not exceeding ten monopolize the imports of 2,400 basic commodities and control its prices.

Store owners are obliged to buy exclusively from these companies.

Finally, the competition law has seen light, after an alliance of groups in power and a number of agents managed to fulfill the terms of sale.

Some of the monopoly cartels include politicians who hold the position of minister or deputy which has led to conflicts of interest.

The existence of exclusive agencies has always hindered Lebanon’s opportunity to enter the World Trade Organization.

The main objective of approving the Competition Law is to reduce prices after the state announced the lifting of subsidies on basic commodities and the establishment of fair competition for those who wish to establish trade without being obstructed by a law passed by Parliament in the sixties.

    Source:
  • Sawt Beirut International