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Contracting authorities should continually engage with key sector groups to ensure and enable the effective implementation of its policy and deliver on its requirement to provide better public services. The most effective approach to bvfm is to maintain competition in the marketplace. It is important that contracting authorities take a strategic, long term approach to the marketplace to gain suppliers knowledge of markets and trends (market engagement) as well as gain an understanding of the capacity and capability of markets in relation to specific projects (market sounding).

There are some key considerations that need to be addressed in this section, including:

What is the role of competition in public procurement?
How can contracting authorities engage the market?
When is market sounding undertaken?
What is market creation?
When is there a need to source suppliers?
How can suppliers be retained through the procurement process?
What about monopolies and cartels?

© 2007 Republic of Cyprus, Treasury of the Republic, Public Procurement Directorate
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