ACCC Snares Global Competition Advocacy Award
The Australian Competition and Consumer Commission (ACCC) has received recognition on a global scale, picking up an award from the International Competition Network and World Bank for its consumer competition advocacy efforts.
The news comes as the ACCC continues to pursue its landmark inquiry into the affect of digital tech giants such as Facebook and Amazon, coupled with the proposed acquisition of Fitbit by Google.
The award was collected on Tuesday night as part of the 2019-2020 International Competition Network and World Bank Group Competition Advocacy Contest, and recognises the ACCC’s work to improve competition in the Australian dairy industry.
An inquiry into the sector saw the subsequent recommendation of a mandatory code, with the dairy inquiry completed in April 2018.
The annual contest recognises the role of competition agencies and government departments to promote competition, and its benefits through activities other than enforcement action.
It comes as the ACCC further many landmark inquiries into tech companies, most recently embarking on investigative scrutiny over the impact of mobile app marketplace practises and data collection.
“It’s an honour to be acknowledged on the global stage, and this award is well-deserved recognition of the ACCC’s advocacy for an industry code to promote greater competition and efficiency in the Australian dairy industry,” states ACCC Chair Rod Sims.
“The dairy inquiry found that the combination of imbalanced bargaining power and unequal availability of information between processors and farmers reduced competition between processors”
“At that time, neither the existing legal framework, nor any voluntary industry-based solution, sufficiently addressed these issues, so we advocated an enforceable code of conduct.”
“The dairy code came into effect at the start of this year and it has already increased the transparency of information that farmers need to compare rival offers, and removed some barriers to farmers switching processors where it’s in their interests,” Mr Sims said.
Other award winners in other categories includes the US Federal Trade Commission and the Hong Kong Competition Commission.