On Friday June 22, 2012 the annual competition conference took place at the Chatham House in London hosting senior officials from antitrust authorities from major and emerging jurisdictions as well as leading competition practitioners. The discussions were centered around the challenges posed by the global economic downturn and how this reinforces the need for a dynamic antitrust policy, streamlined procedures, more pragmatic enforcement, and enhanced cross-border cooperation. The participants put their views and proposals in the context of specific sectors, focusing in particular on extractive industries and new technology markets.
Structural and Procedural Challenges: Faster, Leaner, Meaner?
In this first session, the need for improvements in policy and institutional structure was reiterated. At the present setting, competition policy is to respond and adapt to both the economic crisis and the commercial world’s demands. Markets are characterized by global standards and are linked to each other. This puts pressure on agencies to adapt and ensure stability and safer conditions of doing business. Moreover, the traditional EU-U.S. competition authority duopoly is conclusively over with emerging markets such as China, India and Brazil to place themselves at center stage politically as well as economically.
Senior public officials stressed the need for a vibrant competitive landscape that is driven by innovation and consumers. They indicated their willingness to commit to
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