ICN Steering Group Statement: The Role of Competition & Competition Policy in Times of Economic Crisis

25.10.2022

The International Competition Network (ICN) Steering Group issued a statement addressing the role of competition and competition policy in the contemporary crises which are disrupting economies around the world, such as the pandemic, war, inflation, and supply chain constraints. The ICN is the most important network of competition authorities worldwide. It comprises 140 competition agencies from 130 jurisdictions. Andreas Mundt, President of the Bundeskartellamt, has been the ICN Steering Group Chair since September 2013.

Andreas Mundt, President of the Bundeskartellamt and ICN Chair: “The ICN Steering Group statement sends a strong message to governments responding to the crisis: Competition should be a priority and a component of any response. It also sends a signal to competition agencies around the world to actively enforce the law which is flexible enough to take into account market realities even under extraordinary circumstances.”

The ICN Steering Group statement reaffirms the relevance of competition. It recognizes that in times of multiple crises, competition can become less of a priority for governments, and highlights the vital role of open competition, effective competition policy, and active competition enforcement for lasting and sustainable economic recovery.

The Statement is available on the ICN website.

The ICN is holding a “Competition, Growth and Recovery Workshop” on 25 October 2022 hosted by ICN Vice Chair Margarida Matos Rosa, President of the Portuguese AdC. Registration is open here.

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