Competition Bureau joins international counterparts in G7 Summit on improving competition in digital markets

From: Competition Bureau Canada

The Competition Bureau joined its counterparts from the G7 and guest nations today in an Enforcers Summit to discuss opportunities for international cooperation to improve competition in digital markets.

These discussions, hosted by the U.K.’s Competition and Markets Authority, come at a seminal point. The need to address the challenges of digital markets and big tech is one of the most important issues facing governments and competition authorities around the world.

The Summit is a unique opportunity for international agencies to discuss common areas of interest and potential collaboration on issues such as app stores and mobile ecosystems, cloud computing and algorithms. It also provides an opportunity for attendees to reflect on how best to use their skills, knowledge, and resources to deal with challenges in digital markets.

To capture the work that the G7 competition authorities are doing, they are today jointly publishing a compendium of approaches to improving competition in digital markets. The compendium shows the vast amount of activity competition authorities are dedicating to digital markets, detailing each authority’s work and highlighting shared approaches and tactics.

These include:

  • opening investigations and studies, or bringing enforcement actions;
  • developing specialist teams staffed with technical experts;
  • considering or introducing legislative reforms to bolster enforcement tools or introduce new regulatory regimes;
  • and ensuring regulatory cooperation domestically and internationally.

This will form the basis for future cooperation and coordination as well as providing a resource for governments and other policymakers going forward.

Quotes

“Protecting and promoting competition in digital markets is critical for Canadian consumers and businesses. I would like to thank the U.K. Competition and Markets Authority for hosting these discussions, as well as all our international partners for their continued efforts as we collaborate to keep pace with the digital economy.”

Matthew Boswell

Commissioner of Competition

Quick facts

  • The Group of 7 (G7) consists of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States of America.

  • As part of the U.K.’s 2021 G7 Presidency, the U.K. Competition and Markets Authority hosted a meeting of competition authorities on November 29-30.

  • The G7 competition authorities are: Autoritá Garante della Concorrenza e del Mercato (Italy), Autorité de la Concurrence (France), Bundeskartellamt (Germany), Competition Bureau (Canada), Competition and Markets Authority (United Kingdom), Department of Justice (United States of America), Directorate General for Competition (European Commission), Federal Trade Commission (United States of America) and Japan Fair Trade Commission (Japan).

  • The U.K. invited Australia, India, South Korea and South Africa as guest countries to this year’s G7. The competition authorities for those countries are: Australian Competition and Consumer Commission, Competition Commission of India, Korea Fair Trade Commission and Competition Commission South Africa.

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