Business Services Industry
AUSTRALIANS TO MISS OUT ON TRADE LIBERALISATION BENEFITS: ACCC.
AsiaPulse News, December, 2002
CANBERRA, Dec 3 Asia Pulse - Consumers are set to on the benefits of trade liberalisation unless there was strong competition law, ACCC chairman Allan Fels said today.
The head of the Australian Competition and Consumer Commission said any country which signed up to the World Trade Organisation (WTO) must also agree to introduce strong competition laws.
"In many countries, there is not a serious competition law or it is not seriously applied," Professor Fels told reporters.
"Local manufacturers can ward off the competition by entering restrictive agreements with the retailers."
This was the case with music CDs, he said.
"There's a role for world trade agreements to be complemented by competition law agreements so that anyone...
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