The Fair Trade Commission signed a cooperative agreement on competition laws with the National Competition Commission of Paraguay Nov. 15 to facilitate effective reciprocal law enforcement.
 
According to the FTC, the pact was inked by FTC Chair Lee May and NCC President Eduardo González, with Adriana López de Puerta, minister of the Embassy of the Republic of Paraguay in the ROC (Taiwan), and officials from the Ministries of Economy and Foreign Affairs acting as witnesses. The South American ally has become the eleventh country to sign a competition arrangement with Taiwan, following Australia, New Zealand, France, Mongolia, Canada, Hungary, Panama, Eswatini, Japan and Indonesia.
 
The agreement addresses bilateral consultations, information protection, information requests, notifications and technical cooperation, among other areas, the FTC said.
 
In her remarks, Lee emphasized that deepening legal cooperation and exchanges is the best way to tackle challenges stemming from globalization and the transition to a digital economy. González, who also attended the 2024 International Competition Network Merger Workshop Nov. 13-15 in Taipei City, said both sides value the positive economic impact of active enforcement, adding that he anticipates enhanced collaboration will reinforce the bilateral partnership.
 
Taiwan and Paraguay are ICN members, the FTC said, adding that the pact is in line with the ICN’s mission to promote superior standards and procedures in competition policy around the world. It is expected to help protect consumer interests and promote economic security and prosperity, the commission concluded. 


Source:  Taiwan Today (https://taiwantoday.tw/index.php)