LA PAZ – Bolivia's leftist government on Monday issued a resolution prohibiting monopolies and exclusive business contracts.
A resolution signed by the business supervision and social control authority, or AEMP, says that "no company operating in Bolivia will be able to impose conditions or obligate other economic agents to market its products or brands in an exclusive manner."
"All those sales contracts that contain exclusive conditions subordinated to any condition that (is) not (in accord with) ... economic efficiency are prohibited" as contrary to Bolivia's 2009 constitution.
The regulation does not include any section regarding the pricing of products, despite the fact that AEMP director Oscar Camara announced last week that businessmen were going to be "obligated" to make known the breakdown of their production costs to avoid "unilateral price hikes."
However, a source with AEMP told Efe on Monday that price regulation is not among the powers of the institution, although it can monitor fair competition and halt monopolies and the "private accumulation of economic power to the extent that it places national sovereignty at risk."
In recent years, President Evo Morales has seasonally regulated prices and the export of products like oils, chicken, corn and rice, among others.
The AEMP resolution also establishes that the economic agents affected by "acts or contracts" that limit their right to engage in commerce "in a free and unrestricted manner" will be able to present complaints to the regulatory agency. EFE