Do You Need Competition Policy When You Have Free Trade?

Domestic competition policies aim to promote equitable opportunities to compete in the marketplace. They are oriented toward fostering the most efficient use of resources and increasing the incentives to innovate, both of which result in lower prices, better quality, and more choice for consumers. But domestic competition policies have limitations when it comes to cross-border transactions.For over two decades in international forums, governments have discussed whether and how to develop common approaches to national competition policies.