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Authorities' bid to clamp down on market abuse

Filipe Naigulevu
Saturday, February 03, 2018

THE Fijian Competition and Consumer Commission (FCCC) is stepping up its work with the Fiji Revenue and Customs Service (FRCS) in the areas against market abuse.

The two organisations are continuously working together to investigate abuses and develop appropriate regulations to ensure prices are not dictated through monopolies or cartels.

This is to also to ensure compliance with the law.

To further strengthen this, the FCCC was part of the ASYCUDA WORLD (AW) System training on Wednesday at the FRCS headquarters in Nasese, Suva.

This is in line with the FRCS (Budget Amendment) Bill 2017 which amended section 52(4) of the FRCA Act to include FCCC as an organisation with whom FRCS can share information.

ASYCUDA or the automated system for Customs data is a computerised system that covers most foreign trade procedures.

The training was also aimed at helping FCCC gain access to real-time data on importation of goods by our stakeholders.

This data will allow FCCC to effectively monitor the Fijian market and identify unfair trade practices.

According to FCCC chief executive officer Joel Abraham, the AW System would improve commission's efficiency.

"This training will ensure that FCCC will be kept informed on market information to help us effectively monitor and enforce the provisions of the FCCC Act 2010," Mr Abraham said.

"Through the AW System, FCCC will know what goods are imported, when they are imported, the quantity imported and check if that data correlates with the submissions from stakeholders."

Mr Abraham added that this would also allow FCCC to provide exceptional service delivery to its stakeholders.

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