The Federal Economic Competition Commission (COFECE) has issued (29 November) statement following Congress’ approval of a constitutional reform on organic simplification, which impacts Mexico’s competition policy framework.
While the reform eliminates COFECE’s constitutional autonomy, the agency emphasized that key aspects of its independence and functionality remain intact.
Key Points from COFECE’s Statement
- Commitment to Competition Policy:
COFECE reaffirmed its mission to safeguard economic competition in Mexico by investigating and sanctioning illegal corporate practices that harm consumers. - Respect for Legislative Decisions:
The commission acknowledged the will of Congress in approving the reform, emphasizing its respect for the legislative process. - Independence Preserved:
Although constitutional autonomy is removed, COFECE retains technical and operational independence, a separate legal personality, and its own assets—elements crucial for maintaining a strong competition policy. - Collaboration on Secondary Legislation:
COFECE pledged to work closely with Congress to shape secondary legislation that equips the competition authority with effective tools to combat anti-competitive practices while ensuring transparent and efficient processes. - Continued Vigilance:
Until the reform is fully implemented, COFECE will continue exercising its current powers to investigate violations, promote competition, and pursue collective actions to protect consumers.
Broader Implications
COFECE stressed the importance of competition policy in benefiting Mexican families by driving fair prices, fostering innovation, encouraging investment, and creating jobs. Ensuring the competition authority’s efficacy is vital for Mexico’s economic inclusivity and growth.
This reform marks a significant shift in Mexico’s competition policy landscape, with future legislative developments playing a crucial role in defining the agency’s effectiveness in promoting market fairness.
