Page 435 - Regional Comprehensive Economic Partnership (RCEP)

to resolve the differences, any Party engaged in the consultations CHAPTER 13
may refer the matter to the RCEP Joint Committee in accordance
with Article 18.3 (Functions of the RCEP Joint Committee). COMPETITION

3. No Party shall have recourse to dispute settlement under Chapter
19 (Dispute Settlement) for any matter arising under this Chapter. Article 13.1: Objectives
As part of any general review of this Agreement undertaken in
accordance with Article 20.8 (General Review), the Parties shall The objectives of this Chapter are to promote competition in markets,
review the application of Chapter 19 (Dispute Settlement) to this and enhance economic efficiency and consumer welfare, through the
Chapter. Following the completion of the review, Chapter 19 adoption and maintenance of laws and regulations to proscribe anti-
(Dispute Settlement) shall apply to this Chapter between those competitive activities, and through regional cooperation on the
Parties that have agreed to its application. development and implementation of competition laws and regulations
among the Parties. The pursuit of these objectives will help the Parties
to secure the benefits of this Agreement, including facilitating trade and
investment among the Parties.

Article 13.2: Basic Principles

1. Each Party shall implement this Chapter in a manner consistent
with the objectives of this Chapter.

2. Acknowledging each Party’s rights and obligations under this
Chapter, the Parties recognise:

(a) the sovereign rights of each Party to develop, set,
administer, and enforce its competition laws, regulations,
and policies; and

(b) the significant differences that exist among the Parties in
capacity and level of development in the area of
competition law and policy.

12-12 13-1