PRESS RELEASE
28 November 2024

PCC joins panel discussion at launch of book on competition policy design

Commissioner Lolibeth Ramit-Medrano of the Philippine Competition Commission (PCC) joined a panel discussion at the launch of the book “Designing Competition Policy for Economic Development in Asia and the Pacific” during the Philippine Economic Society’s 62^nd Annual Meeting and Conference on November 7 in Quezon City.

The panel discussion, which centered on the themes of the newly launched book, explored the role of competition policy in fostering economic growth and development in the Asia-Pacific region.

In her remarks, Medrano highlighted the evolving challenges faced by regulators in digital markets, noting the rapid pace of technological advancements and the constant innovation in business models.

“Markets today are primarily driven by technology, and business models are continually evolving. This presents challenges for regulators, especially when technology platforms are not transparent,” said Medrano. “As regulators like the PCC, we are working hard to understand the technology that businesses employ and ensure that our regulatory frameworks are responsive to these changes. However, the lack of transparency and the lack of international treaties or agreements to harmonize competition laws across borders make it difficult to regulate digital markets effectively,” she added.

Medrano further discussed the importance of international cooperation in addressing these challenges, particularly through regional initiatives.

“At the ASEAN level, we have the ASEAN Framework Agreement on Competition, which serves as a roadmap for ASEAN Member States to cooperate, exchange best practices, and align domestic competition policies. This framework is vital for fostering innovation while ensuring that competition laws are up to date with global market realities,” she explained.

Also in the panel were Rep. Stella Luz A. Quimbo (2nd District of Marikina); Dr. James A. Roumasset, Professor of Economics, University of Hawaii; and Dr. Yesim Elhan-Kayalar, Adviser to the Asian Development Bank. The discussion was moderated by Dr. Yasuyuki Sawada, Professor at the University of Tokyo.

The book was conceived in 2018 as part of a discussion during the Manila Forum on Competition in Developing Countries, organized by the PCC. The book aims to understand the role of competition policy in driving economic growth and development, with a specific focus on the Asia-Pacific region.

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REFERENCE:  
publicaffairs@phcc.gov.ph  
PCC Public Affairs and Research Division 

LINK: https://www.phcc.gov.ph/press-releases/pcc-joins-panel-discussion-at-launch-of-book-on-competition-policy-design/