Workshop to disseminate knowledge of competition law, prevent risks of violations

Delegates attending the workshop at Vinh city bridge. Photo: Thu Huyen

Speaking at the opening of the workshop, Mr. Cao Minh Tu - Deputy Director of the Department of Industry and Trade said: In the process of deep integration into the world economy, Vietnam has recently signed manyfree trade agreement, including new generation Free Trade Agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the Free Trade Agreement between Vietnam and the European Union (EVFTA),...

Mr. Cao Minh Tu - Deputy Director of the Department of Industry and Trade delivered the opening speech at the workshop. Photo: Thu Huyen

By participating in new generation free trade agreements, Vietnamese enterprises in general and enterprises in Nghe An province in particular have many new opportunities when participating in trade and investment activities in a larger market, but at the same time also face challenges when having to compete with large foreign partners, with similar product structures and fiercer competition.

Therefore, the workshop aims to promote and disseminate knowledge.competition lawof Vietnam and some member countries of the RCEP Agreement (specifically, the Japanese Anti-Monopoly Law); the EVFTA Agreement for businesses, including import-export businesses. Thereby, helping businesses with export and overseas investment activities comply and prevent risks of violations.

Mr. Bui Tran Thanh - Department of Investigation of Anti-Competition Practices, Department of Competition and Consumer Protection shares about the competition law of the European Union. Photo: Thu Huyen

At the workshop, delegates listened to representatives of the Department of Competition and Consumer Protection share about the European Union's competition law and some notes for businesses; Overview of the Competition Law 2018 - Things businesses need to note.

Ms. Kaori Igarashi - resident expert of Japan International Cooperation Agency (JICA) at the Competition and Consumer Protection Bureau introduced an overview of Japan's Competition Law.

Delegates attending the online workshop at the Anh Son District People's Committee bridge. Photo: Contributor

At the end of the workshop, Mr. Phan Duc Que - Director of the Center for Information, Consulting and Training, Department of Competition and Consumer Protection emphasized that the competition laws of most developed countries have an approach to regulation based on the principle of "impact" instead of the principle of "territory". That means that when participating in trade and investment activities in the markets of member countries of free trade agreements, even as a foreign enterprise, Vietnamese enterprises are still subject to the competition laws of those countries, if they carry out acts that cause an impact that restricts competition in the export and investment markets.

The workshop is an opportunity for businesses, departments, branches, localities... to gain more experience in building and implementing competition laws as well as mechanisms and practices for resolving disputes arising in this field. Thereby, improving understanding of competition laws in particular and policies and laws in general, especially in negotiating and signing economic contracts with foreign elements, enhancing culture in competition...