Sofitel Philippine Plaza Hotel, Pasay City
28 August 2013

President Benigno S. Aquino III emphasized the importance of competition to the growth of any nation, as he graced the 8th East Asia Conference on Competition Law and Policy in Pasay City.

Speaking before competition authorities from 14 different countries in East Asia, President Aquino mentioned that the administration’s thrust to inclusive growth can only be achieved through a healthy competitive environment. And as support to the country’s observance to competition laws, specific measures are being undertaken to create a business environment that is conducive to competition such as the establishment of the National Competitiveness Council chaired by the Department of Trade and Industry and Department of Justice – Office for Competition, and the passing of the Common Carriers Tax Law.

Competition policy composes a set of policies put to promote competition in local and national markets. In a healthy competitive environment, the enforcement of such policy will greatly benefit the consumers since producers and suppliers will be compelled to produce and sell goods and services that are of good quality and at lower cost.

The East Asia Conference was organized to gather international business leaders to exchange ideas, views and experiences on competition issues.

Joining the President during the event were Justice Secretary Leila De Lima and Japan Fair Trade Commission Chairman Kazuyuki Sugimoto.

 * * *