New international competition and consumer law arrangement
Hon Paul Goldsmith
Minister of Commerce and Consumer
Affairs
13 April 2016 Media Statement
New international competition and consumer law arrangement
Commerce and Consumer Affairs Minister Paul Goldsmith today welcomed the signing of a co-operation arrangement between the Commerce Commission and the Canadian Competition Bureau.
“A closer relationship between both agencies will lead to more efficient and effective enforcement of competition and consumer laws both here and in Canada,” Mr Goldsmith says.
“Canada is an important trading partner for New Zealand. Enhancing the co-operation between the two regulators provides a real opportunity for the Commission to increase the efficiency of cross-border investigations and achieve good outcomes for New Zealand consumers and businesses.
“In this globalised trade environment, businesses are operating across borders and consumers are transacting with businesses in different jurisdictions, so international co-operation of this kind is increasingly important for effective enforcement of competition and consumer law.
“This is the Commerce Commission’s second international co-operation arrangement allowing it to share compulsorily acquired information and provide investigative assistance, following an arrangement signed with the Australian Competition and Consumer Commission (ACCC) in February 2013,” Mr Goldsmith says.
The Commerce Commission will be able to provide assistance relating to its powers under the Commerce Act and the Fair Trading Act and be able to request help from the Canadian Competition Bureau. Any co-operation will be subject to safeguards ensuring the protection of privacy, confidential information and legal privilege.
For information about the co-operation agreement visit: www.comcom.govt.nz/international-relations/.