WILLEMSTAD – Curaçao businesses that violate competition rules could face fines of one million Caribbean guilders or more, according to the Fair Trade Authority Curaçao (FTAC), which is stepping up efforts to educate the private sector about fair competition laws.
As part of a new awareness campaign, the authority is encouraging entrepreneurs to report suspected abuses of economic power by suppliers or other dominant market players.
Under Curaçao's competition legislation, the FTAC is authorized to investigate allegations of anti-competitive conduct, including cartels, abuse of dominant market positions and certain merger-related violations. Companies found to be in breach of the law can receive binding orders, periodic penalty payments and administrative fines that can reach ANG 1 million or, in some cases, up to 10 percent of annual turnover.
The FTAC has increasingly demonstrated its willingness to enforce the law. In recent years, the authority has imposed sanctions on businesses and individuals for failing to cooperate with investigations, while courts have upheld several of those penalties.
An independent evaluation commissioned by the Ministry of Economic Development concluded in 2024 that competition oversight remains particularly important in Curaçao's small economy, where dominant market positions are more common and the risk of anti-competitive behavior can be greater than in larger markets. The report described the FTAC as an active and professional watchdog, while recommending additional resources and expanded powers to strengthen its effectiveness.
The FTAC says its latest campaign is intended not only to inform businesses about their rights, but also to encourage them to come forward when they encounter practices that may distort competition. According to the authority, ensuring fair access to suppliers and markets ultimately benefits consumers through lower prices, improved quality and greater choice.