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Competitive Market & Fair Trade

The ICCC’s work in the area of Competitive Markets & Fair Trade is to enforce the competition provisions under the Part VI of the Independent Consumer and Competition Commission Act 2002 (the ICCC Act). The enforcement of Part VI of the Act promotes economic efficiency which leads to lower prices, increased choices and greater economic growth and ultimately enhancement of the overall welfare of all Papua New Guineans.

The ICCC performs an enforcement and adjudication role regulatory to evaluate competition issues in the Papua New Guinean market. The objectives of its work in the area of Competitive Markets & Fair Trade, is to:

• administer Part IV ( referred to as the Market Conduct Rules) of the ICCC Act;
• promote and encourage fair trading practices and a fair market;
• facilitate effective competition and promote competitive market conduct;
• prevent the abuse of market power; promote and encourage the efficient operation of industries and efficient investment in industries;
• promote and protect the bona fide interests of consumers in relation to the acquisition and supply of goods and service;
• investigate complaints concerning matters affecting or likely to affect the bona fide interests of consumers in relation to the acquisition of goods and services and to enforce compliance with laws relating to such matters; and
• investigate complaints concerning market conduct and trade practice to ensure compliance with the laws.