The Australian Competition and Consumer Commission, Chairman Rod Sims today opened the International Bar Association 9th Competition Mid-Year Conference in Sydney.
Mr Sims said the conference is among the most prestigious events on the global competition law calendar.
In welcoming distinguished guests from the ACCC’s sister agencies, Mr Sims said competition regulators play a vital role in ensuring markets work.
"A successful and well functioning market economy needs the incentives for innovation and dynamism that only competition can bring, and it needs the clear boundaries for commercial behaviour provided by effective competition and consumer law."
"This is more important than ever in the post GFC world," Mr Sims said.
The chairman also outlined the ACCC's recent activities in the areas of cartel conduct, anti-competitive agreements and misuse of market power.
"Overall, the ACCC has in the order of 30 in-depth competition investigations, under way covering many fascinating issues," Mr Sims said.
The speech will be available on the ACCC website https://www.accc.gov.au/speech/opening-address-iba-competition-conference.