Canada and Colombia enhance cross-border collaboration in competition law enforcement
June 21, 2017 – OTTAWA, ON – Competition Bureau
The Competition Bureau of Canada and its Colombian counterpart signed a memorandum of understanding (MOU) today to promote cooperation and strengthen cross-border competition law enforcement.
The MOU between the Competition Bureau and the Superintendence of Industry and Commerce (SIC) of the Republic of Colombia establishes a framework for collaboration, coordination and communication of information that will support the investigations and enforcement activities of both agencies.
The signing fulfills a commitment made under the Canada-Colombia Free Trade Agreement to establish a cooperation instrument between the countries’ respective competition authorities. As more business is conducted across global markets, international collaboration is increasingly important in ensuring markets remain competitive and innovative.
John Pecman, Canada’s Commissioner of Competition (right), and Jorge Enrique Sánchez Medina, Deputy Superintendent for Competition Protection at Colombia’s SIC, signed the MOU in Paris, France, where they were attending meetings of the OECD Competition Committee.
“With rapidly evolving global markets, competition agencies around the world are facing similar enforcement challenges. We are stronger and more effective when we work together. I look forward to collaborating more closely with Colombia to advance our shared interest in promoting and protecting competitive and innovative markets, for the benefit of consumers and businesses in both our countries.”
Commissioner of Competition
The Competition Bureau’s international partnerships help ensure that Canadian consumers benefit from competitive prices and that Canadian businesses prosper in both domestic and foreign markets.
With this signing, the Competition Bureau has negotiated cooperation instruments with 15 jurisdictions, including Australia, Brazil, Chile, Colombia, the European Union, Hong Kong, India, Japan, the People’s Republic of China, the Republic of Korea, Mexico, New Zealand, Taiwan, the United Kingdom and the United States.
The Canada-Colombia Free Trade Agreement entered into force on August 15, 2011.
In 2016, two-way merchandise trade between Canada and Colombia totaled $1.6 billion.
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The Competition Bureau, as an independent law enforcement agency, ensures that Canadian businesses and consumers prosper in a competitive and innovative marketplace.
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