Agreement opens way for trans-Tasman competition investigations: NZ Commerce Minister

WELLINGTON, Feb. 27 (Xinhua) -- Trans-Tasman investigations into monopolies, cartels and other anti-competitive behavior have become possible with the signing of a cooperation arrangement between the competition watchdogs of Australia and New Zealand.

New Zealand Commerce Minister Craig Foss on Wednesday welcomed the arrangement between New Zealand's Commerce Commission and the Australian Competition and Consumer Commission (ACCC), saying it opened the way for cross-border joint investigations.

It enabled the Commerce Commission to provide the ACCC with information that had been compulsorily-acquired under New Zealand commerce laws, subject to specific safeguards.

"As some forms of anti-competitive behaviour, such as cartels extend across borders, the co-operation arrangement will allow the Commerce Commission to assist, and be assisted by the ACCC," Foss said in a statement.

"This will result in more efficient enforcement of competition and consumer laws, and facilitate positive outcomes for consumers and businesses in both jurisdictions."

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