Competition Bureau promotes collaboration to support innovative and competitive markets
OTTAWA, Jan. 13, 2017 /CNW/ - The message that smart competition regulation promotes innovative markets and supports economic development was delivered by Commissioner of Competition, John Pecman, during the 8th Vibrant Gujarat Global Summit in India this week.
The summit, organized by the Government of the State of Gujarat, brought together officials from governments, international organizations, business leaders and regulators from around the world to promote cross-border cooperation and economic development.
The Commissioner outlined the Canadian perspective on competition enforcement on a panel entitled Regulators as Enablers of Well-Functioning Markets. He noted that the Competition Bureau's (Bureau) integrated approach to promoting compliance with competition law is rooted in a shared responsibility among enforcers, the legal community, businesses and foreign investors.
While in India, the Commissioner also met with the Chairperson of the Competition Commission of India (CCI), Devender Kumar Sikri. Information was exchanged on enforcement and policy developments, as well as on their mutual priorities and collaboration in multilateral fora, including the International Competition Network. The Bureau and the CCI cooperate and meet regularly in accordance with a joint cooperation instrument signed in 2014. The Bureau is committed to enhancing the impact of its competition enforcement and promotion efforts through increased collaboration with international partners.
In addition, Commissioner Pecman met with Canada's High Commissioner to India, Nadir Patel, to discuss economic relations between the two countries. These discussions underline the Government of Canada's commitment to strengthened ties with India.
- Canada is one of 12 partner countries that participated in the Vibrant Gujarat Summit. The Summit brought together more than 2,500 international dignitaries from 101 countries, and more than 40,000 business delegates.
- Bilateral trade between Canada and India surged to $8.1 billion in 2015 from $6.8 billion the year before.
- International cooperation supports 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.
"The Gujarat Summit underlines India's key role in the world economy. It is an excellent opportunity to advocate for competition, exchange best practices, and work collaboratively to ensure that markets remain competitive and innovative for Canadians at home and abroad. In the digital economy, where business is conducted across borders 24 hours a day, international cooperation in advancing competition is a key component of a well-functioning global marketplace."
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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