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Australia: ACCC chief champions importance of local competition

By  |  September 14, 2014

In the wake of criticism over the Australian Competition and Consumer Commission’s challenge to a major dairy merger, the watchdog’s chief Rod Sims is defending the action to champion smaller, local companies.

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    The ACCC raised concerns over the Murray Goulburn dairy cooperative’s plans to acquire Warrnambool Cheese and Butter. Those concerns lead to criticism y Agriculture Minister Barnaby Joyce, who slammed the ACCC for delaying plans to create a “national champion” of the dairy industry that could compete globally.

    But Sims said global standing does not trump the protection of local competition.

    ”A desire for Australian firms to be successful globally does not mean that protecting firms from competition at home is justified,” he said at the ACCC’s annual meeting.

    Full content: Herald Sun

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