The conference was opened with a conversation between Eleanor Fox (Professor, New York University School of Law) and Eduardo Pérez Motta (former President, Federal Competition Commission, Mexico, now Partner at AGON, Mexico City) about antitrust policy in emerging and developing economies.
Mr. Pérez Motta identified lack of institutions as a major obstacle to robust market systems. While acknowledging that there are many challenges developing countries face, the lack of well-functioning institutions is the greatest, particularly in Mexico. He stressed the importance of credible, independent, transparent, and inclusive institutions.
Building institutions takes time and political will, according to Mr. Pérez Motta. He highlighted advocacy as the principal tool for competition agencies to raise consciousness about the importance of creating institutions. He emphasized the importance of frequent, public discussions to persuade others of the need to focus on institutional reform and help sway the political pendulum in that direction.