OTTAWA, Feb. 1, 2016 /CNW/ - Commissioner of Competition John Pecman and Vice Chairman Hu Zucai of the National Development and Reform Commission (NDRC), signed a memorandum of understanding (MOU) today in Beijing that will further enhance cooperation between Canada and the People's Republic of China (PRC) on competition matters.
The MOU between the Competition Bureau (Bureau) and the NDRC supports communication and collaboration between the two authorities in the fields of competition law enforcement and policy.
Both countries will work collaboratively on matters that are of mutual interest by sharing experience and views, and by keeping each other informed of policy and enforcement developments.
Collaboration with international counterparts to ensure that markets remain innovative and competitive is crucial in an increasingly global economy. International partnerships enhance the impact of the Bureau's work in ensuring that Canadian consumers benefit from competitive prices and increased product choices, and that Canadian businesses prosper in both domestic and foreign markets.
- The Bureau is committed to enhancing the impact of its competition compliance and promotion efforts through increased collaboration with its international enforcement partners.
- This is the third competition cooperation instrument signed between the Bureau and the Chinese antitrust authorities. China has three antitrust authorities. The Bureau signed an MOU with the State Administration for Industry and Commerce of the PRC in March 2015, and with the Ministry of Commerce of the PRC in May 2015.
- The Bureau has negotiated cooperation instruments with 13 jurisdictions, including Australia and New Zealand, Brazil, Chile, the European Union, India, Japan, the People's Republic of China, the Republic of Korea, Mexico, Taiwan, the United Kingdom and the United States.
"I welcome this third cooperation arrangement with the People's Republic of China. It is increasingly important that antitrust authorities collaborate on cross-border enforcement and policy matters. Arrangements like this one expand the Bureau's ability to effectively combat anticompetitive activities with global implications. This is good news for Canadian consumers and it helps Canadian businesses thrive in the global economy."
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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