HCM City (VNA) – Officials from member economies of the Asia-Pacific Economic Cooperation (APEC) forum have highlighted the benefits of establishing competition chapters in
free trade agreements (FTAs) and Economic Partnership Agreements (EPAs).
They gathered at a
workshop on FTA Negotiation Skills on Competition of the Committee on Trade and
Investment (CTI) which took place in Ho Chi Minh City on August 19 as part of
the third APEC Officials Meeting (SOM 3).
CTI Chairwoman
Marie Sherylyn Aquia said in her opening remarks that there is a strong
relationship between trade and competition policies due to their similarities
in objectives.
Both trade and
competition policy seek to enhance welfare by providing for more efficient
allocation of resources, whether it be in lowering trade barriers or through
promoting competition, she said.
The official noted
that new, comprehensive economic or trade agreements now feature specific
provisions or entire chapters to competition-related matters, and that
currently, work to negotiate competition policy happens more at regional and
bilateral settings.
There is growing
recognition that provisions on competition in trade agreements and more
generally, better competition policy, foster and improve the efficiency of
competition in markets including benefiting consumers and businesses, she said.
Toru Ishiguro,
from Japan’s Fair Trade Commission, said competition articles in EPAs make
enforcement cooperation between competition authorities easier.
Through the
dialogue in the negotiation for the competition chapter, each agency builds
mutual understanding and trust, which leads to a shared awareness of sound
enforcement activities, said Ishiguro.
Satoshi Ogawa, a
competition lawyer from the Competition Division of the Organisation for
Economic Cooperation and Development (OECD), held that competition policies
benefit consumers in the short-term and boost innovation and growth in the
longer term, while contributing to the fight against corruption.
Hiroshi Kuro, from the
Japanese Ministry of Foreign Affairs, stressed that APEC has an important role
in promoting competition chapters. He also suggested Vietnam learn new things,
like through this kind of workshop and collaboration
between governments, in order to complete its competition laws.
The CTI was established in November
1993. APEC leaders and ministers direct its work and APEC senior officials provide guidance. The
scope of the CTI’s work was expanded and further clarified by the Osaka Action
Agenda in 1995.
It provides a forum for 21 APEC member economies to deliberate trade and
policy issues. It works to reduce impediments to business activity in the areas
outlined by the Osaka
Action Agenda, with the objective of helping APEC economies achieve free and
open trade and investment.
Trade and investment liberalisation and facilitation are
the cornerstones of APEC’s mission and activities, and the CTI is the
coordinating body for all of APEC’s work in these areas.-VNA