Mr. David Miller, Executive Director of the FTC, recently appeared on a Belizean morning show alongside Mr. Berisford Codd, Senior Trade Economist at the Ministry of Foreign Affairs and Foreign Trade in Belize, to discuss the development of competition policy in Belize and the importance of fostering fairer, more efficient markets.
During the interview, it was explained that Belize is collaborating with the FTC, the CARICOM Competition Commission (CCC), and the Ministry of Foreign Affairs and Foreign Trade to advance the creation of a comprehensive competition law framework. Mr. Miller emphasised that competition policy is fundamentally about protecting consumers—ensuring they benefit from higher-quality goods and services, greater choice, and competitive prices—while simultaneously promoting innovation, business expansion, and sustainable economic development.
Drawing on Jamaica’s experience, Mr. Miller highlighted the transformative impact of increased competition in the telecommunications sector. He noted that greater market rivalry led to improved service quality, wider product offerings, and significantly lower prices for consumers. This example served as a practical illustration of how effective competition policy can deliver tangible benefits across an economy.
The discussion also underscored the critical role of regulation in sectors characterised by natural monopolies, such as electricity and water. In these industries, where full competition may not be possible, strong regulatory oversight is necessary to simulate competitive conditions and prevent anti-competitive practices such as abuse of dominance, predatory pricing, bid rigging, and price fixing. According to Mr. Miller, appropriate regulation ensures that consumers receive fair value while safeguarding market stability.
Regarding Belize’s current position, it was acknowledged that while certain competition principles are embedded within sector-specific legislation—such as telecommunications—there remains a need for a standalone competition law to provide clearer and more comprehensive guidance, particularly in areas like mergers and acquisitions. The Ministry’s next steps include a three-day capacity-building workshop and the launch of a public questionnaire to gather feedback from stakeholders, which will inform the revision of the draft bill.
Overall, Mr. Miller’s appearance highlighted the FTC’s leadership role in the region and its commitment to supporting Caribbean partners in developing robust competition frameworks that promote fairness, efficiency, and consumer welfare.