An overview of a workshop organised by the Committee on Trade and Investment (CTI) (Photo: VNA) HCM City (VNA) – Officials from member economies of the Asia-Pacific Economic Cooperation (APEC) forum have highlighted the benefits of establishing competition chapters infree trade agreements (FTAs) and Economic Partnership Agreements (EPAs).
They gathered at aworkshop on FTA Negotiation Skills on Competition of the Committee on Trade andInvestment (CTI) which took place in Ho Chi Minh City on August 19 as part ofthe third APEC Officials Meeting (SOM 3).
CTI ChairwomanMarie Sherylyn Aquia said in her opening remarks that there is a strongrelationship between trade and competition policies due to their similaritiesin objectives.
Both trade andcompetition policy seek to enhance welfare by providing for more efficientallocation of resources, whether it be in lowering trade barriers or throughpromoting competition, she said.
The official notedthat new, comprehensive economic or trade agreements now feature specificprovisions or entire chapters to competition-related matters, and thatcurrently, work to negotiate competition policy happens more at regional andbilateral settings.
There is growingrecognition that provisions on competition in trade agreements and moregenerally, better competition policy, foster and improve the efficiency ofcompetition in markets including benefiting consumers and businesses, she said.
Toru Ishiguro,from Japan’s Fair Trade Commission, said competition articles in EPAs makeenforcement cooperation between competition authorities easier.
Through thedialogue in the negotiation for the competition chapter, each agency buildsmutual understanding and trust, which leads to a shared awareness of soundenforcement activities, said Ishiguro.
Satoshi Ogawa, acompetition lawyer from the Competition Division of the Organisation forEconomic Cooperation and Development (OECD), held that competition policiesbenefit consumers in the short-term and boost innovation and growth in thelonger term, while contributing to the fight against corruption.
Hiroshi Kuro, from theJapanese Ministry of Foreign Affairs, stressed that APEC has an important rolein promoting competition chapters. He also suggested Vietnam learn new things,like through this kind of workshop and collaborationbetween governments, in order to complete its competition laws.
The CTI was established in November1993. APEC leaders and ministers direct its work and APEC senior officials provide guidance. Thescope of the CTI’s work was expanded and further clarified by the Osaka ActionAgenda in 1995.
It provides a forum for 21 APEC member economies to deliberate trade andpolicy issues. It works to reduce impediments to business activity in the areasoutlined by the OsakaAction Agenda, with the objective of helping APEC economies achieve free andopen trade and investment.
Trade and investment liberalisation and facilitation arethe cornerstones of APEC’s mission and activities, and the CTI is thecoordinating body for all of APEC’s work in these areas.-VNA
They gathered at aworkshop on FTA Negotiation Skills on Competition of the Committee on Trade andInvestment (CTI) which took place in Ho Chi Minh City on August 19 as part ofthe third APEC Officials Meeting (SOM 3).
CTI ChairwomanMarie Sherylyn Aquia said in her opening remarks that there is a strongrelationship between trade and competition policies due to their similaritiesin objectives.
Both trade andcompetition policy seek to enhance welfare by providing for more efficientallocation of resources, whether it be in lowering trade barriers or throughpromoting competition, she said.
The official notedthat new, comprehensive economic or trade agreements now feature specificprovisions or entire chapters to competition-related matters, and thatcurrently, work to negotiate competition policy happens more at regional andbilateral settings.
There is growingrecognition that provisions on competition in trade agreements and moregenerally, better competition policy, foster and improve the efficiency ofcompetition in markets including benefiting consumers and businesses, she said.
Toru Ishiguro,from Japan’s Fair Trade Commission, said competition articles in EPAs makeenforcement cooperation between competition authorities easier.
Through thedialogue in the negotiation for the competition chapter, each agency buildsmutual understanding and trust, which leads to a shared awareness of soundenforcement activities, said Ishiguro.
Satoshi Ogawa, acompetition lawyer from the Competition Division of the Organisation forEconomic Cooperation and Development (OECD), held that competition policiesbenefit consumers in the short-term and boost innovation and growth in thelonger term, while contributing to the fight against corruption.
Hiroshi Kuro, from theJapanese Ministry of Foreign Affairs, stressed that APEC has an important rolein promoting competition chapters. He also suggested Vietnam learn new things,like through this kind of workshop and collaborationbetween governments, in order to complete its competition laws.
The CTI was established in November1993. APEC leaders and ministers direct its work and APEC senior officials provide guidance. Thescope of the CTI’s work was expanded and further clarified by the Osaka ActionAgenda in 1995.
It provides a forum for 21 APEC member economies to deliberate trade andpolicy issues. It works to reduce impediments to business activity in the areasoutlined by the OsakaAction Agenda, with the objective of helping APEC economies achieve free andopen trade and investment.
Trade and investment liberalisation and facilitation arethe cornerstones of APEC’s mission and activities, and the CTI is thecoordinating body for all of APEC’s work in these areas.-VNA
VNA
