Signing of MOU between Taiwan and Canada – Marks the First for Country in America.

The Fair Trade Commission (FTC) of the Executive Yuan indicated that the signing of memorandum of understanding (MOU) for implementation of competitive act between Taiwan and Canada on July 15 marks the 6th signed MOU for cooperation of competition act with foreign countries, after signing with Australia, New Zealand, France, Mongolia, etc. on cooperation and assistance in the pursuit of holding regular meetings and exchanging confidential information (among others).

The FTC noted that Canada, the world’s first to enforce the Competition Act, starts to practice the Competition Act in 1889.  The history of practicing the Competition Act for 120 years has enable Canada to be well experienced in law enforcement.  Since the establishment of the FTC in 1992, there have been frequent interactions between the FTC and the Competition Bureau of Canada.

The FTC signed a bilateral competition cooperation agreement with Australia, New Zealand, and France in 1996, 1997 and 2004 respectively.  In 2002, a trilateral cooperation agreement was signed among Taiwan, Australia and New Zealand.  Taiwan later signed a MOU with Mongolia in 2007.  The signing of MOU with Canada is significant, as it is Taiwan’s first signed MOU for implementation of competitive act with country in the America.  The FTC aims to expand its partnership to the competent authorities governing matters relating to competition and fair-trade in the US, Mexico and other Pacific countries.

With the economic globalization and liberalization, cross-country actions in anti-competitive cooperation are increasing; especially in fighting against hardcore cartels that severely affect the stability and prosperity of global economy.  The international community considers that entering into bilateral or multilateral cooperation agreements to be one of the most effective measures taken to curb hardcore cartels.  (2009.07) 
/DC