Select Committee reports back on Cartels Bill
Hon Craig Foss
Minister of Commerce
Select Committee reports back on Cartels
Commerce Minister Craig Foss today welcomed the
Commerce Select Committee report on a Bill to encourage
The Commerce (Cartels and
Other Matters) Amendment Bill promotes economic growth by
enabling pro-competitive collaboration between firms, while
also deterring hard-core cartel conduct.
forms an important part of the Government’s Business
Growth Agenda and our ambitious goal to increase the ratio
of exports to GDP to 40 per cent by 2025,” says Mr
“It will enable collaborative arrangements that
can help businesses innovate and tap into overseas markets.
This will be a welcome change for New Zealand’s export
“At the same time the Bill takes a strong
stance against hard-core cartel conduct like price fixing
and bid rigging and introduces criminal sanctions for
“These activities will not be
tolerated and anyone engaging in them will be treated the
same way as tax evaders, fraudsters and other white collar
criminals,” says Mr Foss.
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