The Australian Competition and Consumer Commission and the State Administration for Industry and Commerce (SAIC) of the People’s Republic of China signed a Memorandum of Understanding (MoU) today.
The MoU promotes cooperation and coordination between the ACCC and the SAIC, particularly in regard to law enforcement, information sharing and staff training.
The MoU was signed in Canberra by ACCC Chairman, Mr Rod Sims and the SAIC’s Minister, Mr Zhou Bohua.
“The ACCC is increasing its engagement with the Asia-Pacific region in order to better respond to cross border conduct affecting Australian markets and consumers,” ACCC Chairman Rod Sims said.
“Signing this MoU is an important step in ensuring the ACCC is positioned to work with one of the region’s key competition and consumer regulators.”
As Australia’s largest two-way trading partner, a strong working relationship with Chinese competition and consumer protection authorities will assist the ACCC make markets work for consumers.
“While initially we have a lot to learn about each other, the ACCC sees this agreement as one which will build the framework for cooperation in active investigations in the future,” Mr Sims said.
The ACCC was very pleased to host Minister Zhou in Canberra and before signing the MoU, held high level discussions with the SAIC delegates.