The New Zealand Commerce Commission and Australian Competition and Consumer Commission are today welcoming the passing of legislation arising out of the Commerce Commission (International Cooperation, and Fees) Act.

The Act enables the two agencies to work together more effectively making it easier to tackle trans-Tasman competition, consumer and telecommunications issues. The Commerce Commission will be renewing its cooperation arrangement with the ACCC in line with the new Act.

“Lots of companies operating in New Zealand also operate in Australia, and vice versa. The provisions of the Act mean that we can share information and resources more readily with each other to be more effective in our individual markets,” said Dr Mark Berry, Commerce Commission Chair. “We have always had a productive working relationship with the ACCC and I look forward to that continuing.”

“The Act reflects similar powers under Australian law and will strengthen the already close working relationship between the ACCC and NZCC. In the ACCC’s view, Australia and New Zealand’s approach now sets the global standard for ensuring regulators are empowered to cooperate to address cross border competition, consumer and telecommunications issues,” ACCC Chairman Rod Sims said.

The Act extends to all overseas competition, consumer and telecommunications regulators, not just the ACCC. The Commission and ACCC already have a close working relationship which is aided by Commissioner cross-appointments. Dr Jill Walker, Member of the ACCC, is an Associate Commissioner at the Commerce Commission. Dr Mark Berry, Chair of the Commerce Commission, is an Associate Member of the ACCC.