n contractual liability. It would also have its

n Ethiopia, a Trade Practice and Consumer Protection Law, the first in its kind, was enacted in August 2010 under Proclamation No.685/2010.?The rationale behind and objectives of this newly enacted Trade Practice and Consumer Protection Law can be summarized, on the one hand, as protecting the rights, health and safety of consumers and, on the other hand, as preventing anticompetitive practices and unfair competition.  Coming to implementation institutions, the law establishes the Trade Practice and Consumer Protection Authority as an autonomous federal government organ responsible to adjudicate matters on the violation of the Trade Practice and Consumer Protection Law. In addition this adjudicative power, the Authority has extensive administrative powers. It has its own director general, judges for its tribunals, and as well as the necessary staff. The law has clearly provided that the Authority is free from any interference in cases it adjudicates. It also provides for separate annual budget of the Authority.  Coming to the effect of the Trade Practice and Consumer Protection Law, this law has its own impact on regulatory bodies, on the basic laws of contract and extra contractual liability. It would also have its own effect, depending on whether it is enforced properly or not, on business persons and on the over all protection of consumers. The effect of the law on business personswould depend, to a large extent, on whether the law is properly and effectively enforced. When the law is properly enforced, it would bring a positive impact on business persons by preventing anticompetitive practices and unfair competition. For proper enforcement of the law, however, the cooperation of stake holders, particularly that of traders’ associations, is essential              For a longer period of time, every country on the globe had been using different laws and rules to regulate the market. These laws and rules were designed to ensure a fair play in the market place. Market rules are not a new phenomenon but have existed for a longer period of time to govern market activities. They existed long before the introduction of what we now call market economy.    Recognizing the importance of ensuring competition to its free market economy, 31Ethiopia introduced the Trade Practice Proclamation in 200332, which was later amended in 2010 and 2014.Although Ethiopia has enacted and amended laws that prohibit anticompetitive practices and behaviors, the level of competition in the country has been very low.