Saturday, June 15, 2024

NZ joins consumer regulatory network

The Commerce Commission has joined competition, consumer protection, and economic regulators from across the Pacific to share intelligence, investigative techniques, and best practice in a newly formed initiative – the Pacific Island Network of Competition Consumer and Economic Regulators or PINCCER.

In a statement, the Commission said PINCCER will seek to build agency capabilities, strengthen the combined agency voice of competition, economic regulation and consumer authorities in small Pacific Island economies and provide a focused forum to promote well-functioning markets.

“The Pacific region is home to several small island developing economies that face common challenges in facilitating fair competition, pricing, and consumer protection. Many of these economies are still growing their authorities’ expertise and resources in these areas,” it said.

Speaking about the initiative, Commerce Commission Chair, John Small (pictured) said, “Everyone benefits when competition is able to drive market performance. Through PINCCER, we can share information and expertise to address existing and emerging issues that support economic growth and regional development.”

Founding PINCCER national authorities representing the economies of New Zealand, Australia, Cook Islands, Fiji, French Polynesia, Kiribati, New Caledonia, Papua New Guinea, Samoa, Solomon Islands, Tonga and Vanuatu, have already set about establishing the network protocols and focus areas.

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