Cofece creates a new General Directorate to supervise digital markets in Mexico

LatamListCofece, the competition authority in Mexico, created a new General Directorate of Digital Markets, whose function will be to analyze the development of digital markets and its implications in terms of economic competition and free competition. 

On July 3, the Cofece published the agreement CFCE-158-2020 which modifies its Organic Statute and creates the new General Directorate of Digital Markets in the Official Gazette of the Federation.

Its main objectives are to study and monitor the operation of competition in digital markets and to generate and standardize knowledge about competition around digital markets. 

As part of its Digital Strategy, Cofece committed to generate before the end of 2020, “a document with proposals for public policy so that digital markets benefit more Mexican consumers ”. 

In its Digital Strategy, Cofece establishes that “the concept of digital economy refers to the exchange of numerous products and services by consumers and suppliers in various markets, taking advantage of and exploiting the telecommunications infrastructure and the products of the technology industries.” 

The new management will be headed by an executive director of Digital Markets, who will be appointed and removed by the full committee.

Read more on El Economista

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