OTTAWA, Dec. 2, 2016 /CNW/ - A memorandum of understanding (MOU) enhancing cooperation in competition matters was signed today in Paris.
Commissioner of Competition John Pecman of Canada and Chairperson Anna Wu Hung‑yuk of the Competition Commission (CC) of the Hong Kong Special Administrative Region of the People's Republic of China agreed to collaborate by sharing competition law enforcement information and experiences, as well as encouraging technical cooperation including staff exchanges.
Hong Kong is Canada's 6th largest export market. The agreement supports the Government of Canada's focus on strengthening ties in the Asia‑Pacific region in recognition of its growing economic importance to Canada.
Canada's and Hong Kong's officials met on the sidelines of the OECD Competition Committee meetings in Paris, where Canada participated in various roundtables on topics such as Sanctions in Antitrust Cases, Agency Decision‑making in Merger Cases: Prohibition and Conditional Clearances and Independence of competition authorities - from designs to practices.
- International partnerships support the Bureau's work in ensuring that Canadian consumers benefit from competitive prices and increased product choices while Canadian businesses prosper in both domestic and foreign markets.
- This MOU will be Hong Kong's first international cooperation instrument in the area of competition since the full implementation of its legislation, the Competition Ordinance, in December 2015.
- With this signing, the Bureau has negotiated cooperation instruments with 14 jurisdictions, including Australia, Brazil, Chile, the European Union, Hong Kong, India, Japan, the People's Republic of China, the Republic of Korea, Mexico, New Zealand, Taiwan, the United Kingdom and the United States.
"The Competition Commission of Hong Kong is a dynamic new agency that benefits from a highly‑engaged competition law community. As the Commission builds its investigative capacity, I look forward to strengthening our collaboration. This healthy relationship will also assist the Bureau in the effective enforcement and administration of the Competition Act and ensure that markets remain competitive and innovative."
John Pecman, Commissioner of Competition
The Competition Bureau, as an independent law enforcement agency, ensures that Canadian businesses and consumers prosper in a competitive and innovative marketplace.
SOURCE Competition Bureau
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