UNCTAD experts call for ensuring open, competitive, and fair digital markets in developing countries
During the UN Conference on Trade and Development (UNCTAD) experts meeting on competition law and policy convened between 7 – 9 July 2021, it was highlighted that authorities in developing countries encounter multiple challenges in imposing competition law against digital platforms since they are global in nature. According to the UNCTAD survey, some of these challenges include the dynamic structure of digital markets, zero-price services, network effects, market tipping, lock-in effects, and multihoming. To address these challenges, international cooperation is needed for effective enforcement of competition law in cross-border cases in the digital economy. ‘International cooperation is key to effective competition law enforcement in the digital economy due to the global nature of many of the larger online platforms,’ highlighted UNCTAD’s head of competition and consumer policies Teresa Moreira.