During the commemoration of this year’s World Competition Day organised by Competition and Fair Trading Commission (CFTC), Minister of Industry, Trade and Tourism Salim Bagus called on businesses to produce goods that can compete on the global market.

Bagus said businesses must be competitive on the market as competition regulates pricing, encourages innovation, advancement in technology and improves the quality of goods and services. In March this year, CFTC was praised by a delegation from the Competition Authority of Botswana that was in the country to appreciate how Malawi is performing on consumer protection laws, to which the Botswanans said they were impressed. While hailing the firm, the minister also warned that businesses must not engage in anti-competitive business practices such as price fixing, cartels, unauthorised resale price, predation, tying and bundling, among others.

The commemoration event was themed ‘The Role of Traders and Business Enterprises in Ensuring Effective Competition on the Market.` Mangochi Central legislator Victoria Kingston commended the commemoration event happening in the district, as the region is a hub of businesses.