The International Chamber of Commerce Mexico (ICC Mexico) urged to speed up the appointment of the official who will replace the current head of the Federal Economic Competition Commission (Cofece), Alejandra Palacios Nieto.

Cofece is the authority in charge of applying the federal Economic Competition Law in Mexico in all sectors, except telecommunications and radio broadcasting.

For its part, ICC Mexico represents and supports companies established in this country at the national and international level, in order to promote economic growth, open trade and encourage investment in Mexico.

“Given the announcement made by Alejandra Palacios Nieto to advance her separation from Cofece once her term as President ends on September 9, ICC Mexico considers that in order to avoid essential effects on the functioning of the regulatory body and damages in In the market for companies and end consumers, it is extremely important that the Federal Executive and Legislature immediately make the appointment of vacancies for Commissioners,” ICC Mexico said.

ICC Mexico

The Cofece needs to have a minimum of five qualified votes for the following cases:

• Order measures to eliminate barriers to competition and free competition; determine the existence and regulate access to essential inputs, as well as order the divestiture of assets, rights, social shares or shares of the Economic Agents.
• Issue Regulatory Provisions for the fulfillment of its powers and the organic statute of COFECE.
• Publish Regulatory Provisions necessary for the fulfillment of its attributions, as well as issue directives, guides, guidelines and technical criteria.
• Appoint or remove the Head of the Investigating Authority.

The Plenary, as the highest decision-making body of Cofece, may resolve matters within its competence with four commissioners with solvency and solid knowledge, however, the lack of a commissioner to reach qualified votes will put at risk the unrestricted application of the Law and It will contribute to the paralysis of its functions and probable distortion in the markets.

In the immediate term, added ICC Mexico, Cofece has important challenges to address such as digital, health, labor markets and others related to the Mexico, United States and Canada Free Trade Agreement, including transportation and in particularly the railway.