Taiwan and Republic of Colombia Sign MOU Regarding Application of Competition Laws

Taiwan Fair Trade Commission (FTC) inked a memorandum of understanding with respect to the application of competition laws with the Superintendence of Industry and Commerce of the Republic of Colombia on September 2, 2015, which is the ninth instrument following the other eight ones the FTC has signed with Australia, New Zealand, France, Mongolia, Canada, Hungary, Panama, for application of competition laws.

FTC has been partaking in many international occasions regarding competition laws with a view to enhancing substantial bilateral interaction with the competent authorities of competition laws of other countries, and that is why the FTC has been maintaining good and amicable relationship with the competent agency of Colombia’s competition law after participation in the OECD (Organization for Economic Cooperation and Development) and ICN (International Competition Network).  Now signing of the MOU with respect to the application of competition laws between Taiwan and the Republic of Colombia will further elevate their interaction and cooperation so as to safeguard fair competition on the markets of the two countries.

According to the FTC, the MOU was signed in Chinese, Spanish, and English languages by both sides’ representative signatories in different places.  It covers nine articles governing notifications, cooperation and coordination, avoidance of conflicts, consultation, and confidentiality of information, among others.  In the meantime, this is the first MOU that the FTC has signed with South American nations with respect to application of competition laws.  It is expected that the MOU will facilitate Taiwan’s promotion or enhancement of cooperation and interaction with other Latin American countries in regard to application of competition laws.  (September 2015)
/CCS