The Australian Competition and Consumer Commission welcomed its East Asian counterparts to Sydney this week for their 14th annual meeting on competition policy, the first to be held in Australia.
The ACCC jointly hosted this year’s East Asia Top Level Officials’ Meeting on Competition Policy (EATOP) yesterday, at the invitation of the Japan Fair Trade Commission, which sponsors the event every year with the Asian Development Bank Institute, a think tank attached to the regional finance institution.
The JFTC said the heads of 17 competition regulators in the East Asian region came along to build relationships between their agencies through a “candid exchange of views and information” that would allow them to discuss new developments in competition law.
“It is a great privilege to welcome my competition law agency counterparts from across East Asia to Australia for this important meeting,” ACCC chair Rod Sims said in a statement this week.
“Through EATOP, the ACCC and our fellow competition agencies from across the region have the chance to learn and assist each other for the common goal of protecting and supporting fair and open competition.”
Sims said international cooperation was important since anti-competitive business activity often exploits regulatory gaps created by national borders.
“Anti-competitive behaviour by multinational businesses often stretches across jurisdictions to the detriment of markets across the region. Therefore it is vital that competition law enforcement agencies maintain strong relationships to protect fair and efficient markets globally.”
Following the meeting for competition regulators like Sims and their support staff, which allows them to have a candid, private discussion, a larger group of “stakeholders from the competition law community” are meeting today the related East Asia Conference on Competition Law and Policy (EAC), which is always directly after EATOP.
“We are grateful to those in the legal community, academics and stakeholders who are coming to the EAC to share their knowledge and perspectives on the development and implementation of competition law in the region,” said Sims.
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