CADE Signs Memorandum of Understanding with Ecuador’s Antitrust Authority
The Administrative Council for Economic Defense – CADE and the Superintendencia de Control del Poder de Mercado – SCPM, competition authority of Ecuador, signed a memorandum of understanding in order to promote the exchange of information and experiences on competition enforcement matters.
The agreement was signed by CADE’s President, Vinicius Marques de Carvalho, and by his counterpart in Ecuador, Superintendent Pedro Páez, in a celebration held in CADE’s headquarters, in Brasilia. Ecuador’s Ambassador to Brazil, Horacio Sevilla Borja, was also present.
According to SCPM’s Superintendent, the cooperation established with CADE will contribute to the development of his country’s antitrust policy. “To us, this agreement is the guarantee of following a good path”. Equatorian authority was created in 2011 by its organic law (Ley Orgánica de Regulación y Control del Poder de Mercado).
To the president of CADE, agreements like this are important once they allow a direct relation between competition authorities through which, he named, “regional dialogue”.
“Thereby, we manage to handle similar queries between the countries, in the interest of both parties, in a closer manner”.