The Fijian Competition and Consumer Commission (FCCC) and its counterpart regulatory bodies responsible for competition, consumer protection and economic regulation across the Pacific region have established a newly-formed initiative called the Pacific Island Network of Competition Consumer and Economic Regulators (PINCCER).
The founding PINCCER national authorities are Fiji, Australia, New Zealand, Cook Islands, French Polynesia, Kiribati, New Caledonia, Papua New Guinea, Samoa, Solomon Islands, Tonga and Vanuatu.
According to the FCCC, the primary goal of the PINCCER is to “foster a synergistic alliance among the Pacific nations, with a strong emphasis on the exchange of vital information, capacity building, investigative methodologies, and the implementation of advanced regulatory practices”.
The founding national authorities have already embarked on the development of network protocols and identification of key areas of focus.
FCCC chief executive Joel Abraham said the initiative was a way to synchronise endeavors with Pacific partners aimed at improving overall expertise collectively and work towards establishing fair market conditions that favoured both consumers and traders throughout the region.
He said the initiative would promote increased collaboration, exchange of vital information, and the implementation of best practices among regulators.
“Ultimately, the aim is for more resilient, equitable, and adaptable regulations, fostering economic growth, innovation, and safeguarding consumer interests across the Pacific region,” Mr Abraham said in a statement.
“The genesis of PINCCER not only symbolises a step forward in unifying their efforts but also in embracing the wealth of knowledge and experience from their Pacific neighbours.
“PINCCER is not just about collaboration. It’s about shaping the future of our markets. We aim to set new standards for competition, consumer protection, and economic regulatory aspects across the Pacific, strengthening regulatory practices and promoting fair business.”