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WAEMU Competition Commission Implements Amended Treaty

Dakar, Senegal - The West African Economic and Monetary Union (WAEMU) has introduced a new competition regulation framework aimed at promoting fair business practices within its member states. The amended treaty comes into effect on May 23rd, with the WAEMU Competition Commission taking center stage in enforcing anti-competitive agreements.

Regulations and Directives

The regulations and directives aimed at regulating anti-competitive business practices come in three parts:

  • Regulation No 02/2002/CM/UEMOA of 23 May 2002 on anti-competitive business practices
  • Regulation No 03/2002/CM/UEMOA of 23 May 2002 on procedures
  • Directive No 02/2002/CM/UEMOA

Individual Exemption Process

Companies and associations of companies participating in agreements or concerted practices can submit requests for individual exemption decisions. The Commission may adopt exemptions by category for:

  • Specialization agreements
  • Research and development agreements
  • Technology transfer agreements

Fines and Penalties

The Commission has the power to impose fines on companies and associations of companies found guilty of anti-competitive practices. Fines range from XOF500,000 to XOF100 million, or 10% of the turnover in the preceding business year of each company participating in the infringement.

Enforcement

The Commission can compel companies and associations of companies involved in anti-competitive behavior to put an end to the infringement. Any member state of the WAEMU and any natural or legal person may submit a request for enforcement action.

Judicial Appeal

Decisions taken by the Commission are subject to judicial appeal before the WAEMU Court of Justice. The court has unlimited jurisdiction to hear and determine actions brought against decisions by the Commission, and may amend or void the decisions taken.

No National Security Review Regime

It appears that there is no national security review regime applicable to foreign direct investment (FDI) in Senegal.

Aims of the Amended Treaty

The amended treaty aims to promote fair competition within the WAEMU region, ensuring that companies operate on a level playing field. The Commission will be responsible for enforcing the regulations and directives, working closely with member states and other stakeholders to ensure compliance.

Contact Information

For more information on the WAEMU Competition Commission and its role in enforcing anti-competitive business practices, please contact:

WAEMU Competition Commission [Email] [Phone]


This article has been rewritten from a media perspective to provide an overview of the merger control regime within the West African Economic and Monetary Union (WAEMU), including the amended treaty, regulations, and directives related to anti-competitive business practices.