Competition in uncertain times


From: Competition Bureau Canada 



    
    Speech


    

Competition in uncertain times - Remarks by Matthew Boswell, Commissioner of Competition. 2025 International Bar Association Annual Conference - November 4, 2025. Toronto, Ontario

    

 

	
    
        

    

Remarks by Matthew Boswell, Commissioner of Competition 


2025 International Bar Association Annual Conference 


November 4, 2025 


Toronto, Ontario 


(As prepared for delivery) 
Introduction 


Good afternoon. Thank you for that kind introduction 


It’s a pleasure to be here with you at the IBA’s Annual Conference and at your Antitrust Section Lunch. 


I’d like to begin by acknowledging that we are gathered on the traditional territory of the Huron-Wendat, Haudenosaunee (hoe-den-oh-show-nee), and Anishinaabeg (Ah-nish-in-a-bek) Nations, and the Mississaugas of the New Credit First Nation. 


The IBA plays a vital role in fostering dialogue and collaboration among legal professionals and enforcers across jurisdictions. I’m honoured to contribute to that mission today. 


Because that mission is more important than ever. We are living through an era of profound uncertainty. Geopolitical shifts, technological disruption, and structural changes in global markets are reshaping the world around us. 


And so today, I want to address a question that matters deeply to all of us in our profession: in an era defined by uncertainty and change, how should competition agencies respond? 


My answer is simple and firm: we must be a stabilizing force. 


Stability is critical for businesses seeking predictability, for consumers who need protection, and for economies that require a roadmap for growth. 


The stability that competition agencies can provide rests on two pillars: evidence-based enforcement and international cooperation. 


I’ll discuss each in turn, but to start, let me speak a bit more about the current backdrop shaping our collective work. 
Uncertainty and change 


The scale of change we face is unprecedented. 


First, global trade is being fundamentally redefined. What was once a predictable system has forced a realignment of global supply chains and shifted competitive dynamics across markets. 


Second, geopolitical competition in critical sectors is intensifying. Government intervention in these markets is evolving quickly, and the intersection of industrial policy and competition policy is fluid. 


Third, rapid technological advances—especially in artificial intelligence— are reshaping markets and business models. AI is here to stay—the toothpaste isn’t going back in the tube. But where AI will ultimately take us remains uncertain. What is certain, however, is that the opportunities and risks for consumers are significant. 


These three forces are structural. They challenge long-standing assumptions and test the resilience of institutions, including competition agencies. 
Evidence-based enforcement in a changing world 


So how does a competition agency evolve in this environment? Let me share Canada’s approach. 


It starts with independence. The Competition Bureau is independent, and that independence is essential. It allows us to enforce the law impartially, free from political influence. It means our investigations are based on facts, evidence, and sound judgement. That’s what Canadians expect of us, and that’s what we will continue to deliver. 


But independence does not mean isolation. We must adapt to changes in the broader economic and policy environment, where decisions in trade, industrial policy, and technology shape the competitive landscape. 


Adapting doesn’t mean abandoning core values—it means applying them in new contexts. 


These shifts demand agility, but also clarity of purpose. In this environment, evidence is our compass. It helps us distinguish between genuine competitive harm and the noise of political or economic turbulence. It ensures that decisions are coherent. And it reinforces public trust that enforcement is principled. 


Evidence-based enforcement is a strategic anchor. It provides clarity to businesses, confidence to stakeholders, and credibility to our institutions. And as the pace of change accelerates, that anchor becomes all the more important. 


To deliver on evidence-based enforcement, we must continuously adapt—not just in our policies, but in our capabilities. That means ensuring we have the right skillsets, the right talent, and the right technology to detect, analyze, and process increasingly complex theories of harm and the sophisticated evidence that comes with them. 


Evidence-based enforcement also means evolving the way we collect and analyze evidence. This isn’t only about protecting and promoting competition in AI-driven markets—it’s about using AI to strengthen our own enforcement capabilities. At the Competition Bureau, we are embracing AI tools to enhance detection, improve analysis, and accelerate case processing. In short, we are building the future of enforcement to keep pace with the future of markets. 


Our efforts in this area notably led to the creation of our Digital Enforcement and Intelligence Branch in 2021 and continues in earnest today. Long gone are the days when competition agencies were staffed solely by economists and lawyers. We have now integrated technologists, data engineers, and behavioral scientists into our teams—and we are stronger for it. These diverse skills allow us to tackle complex theories of harm, process vast datasets, and respond to market dynamics with agility. 
International cooperation: More vital than ever 


In addition to our independent and agile evidence-based enforcement, in the current environment, international cooperation is essential. 


The issues we face—such as digital platforms and global mergers—do not respect borders. They require open dialogue, shared understanding, and coordinated responses. Simply put, we are stronger when we cooperate— and our stakeholders reap the rewards of that strength. 


Deeper cooperation has been the pursuit of at least three decades of work by enforcement agencies, reflecting the expansion of global trade and the interconnectedness of markets. It was sped up by the emergence of the digital economy, and we’re now in the midst of yet another transformative shift. This progress must continue. 


Despite recent trade developments, many companies and competition issues continue to span multiple jurisdictions. Agencies will, of course, apply their own competition laws and prepare their own market studies, but we are stronger when we address these common issues together. 


Canada has recently undergone three major rounds of legislative amendments to our Competition Act. In each case, we’ve benefited immensely from the experiences of other jurisdictions—whether in shaping the substance of reform or in implementing new tools. We’re also revising our enforcement guidelines to reflect these reforms, and again, international collaboration is informing our approach. 


And cooperation is not just about policy alignment—it directly advances enforcement investigations. Sharing intelligence, coordinating remedies, and learning from each other’s approaches not only make us all more effective, but it is often what companies operating across borders call upon us to do. Because they want predictability and stability. 


So, there’s no doubt that our active international engagement has been good for Canada. And—if I may say so with all due Canadian humility—it has also been good for our partners. When agencies collaborate, we all benefit from stronger cases, better outcomes, and more consistent application of competition principles globally. 


Over the years, our collaborative efforts with enforcers and policymakers at multilateral fora—including the OECD, ICN and G7—have been at the leading edge of some of the most important challenges we have faced as we tackled competition issues in digital markets. 


International cooperation continues to a necessity for the Competition Bureau. That’s why we continue to build the framework for international cooperation—including signing an MOU with the UK Competition & Markets Authority last year. 


We are also working towards a renewed Canada-EU Competition Cooperation Agreement, providing a legal framework to coordinate enforcement activities and share information we obtained through investigative powers while respecting data privacy guarantees in both jurisdictions. 


Why do these MOUs and cooperation instruments matter? Because they turn good intentions into actionable commitments. They create a formal channel for sharing intelligence, coordinating investigations, and exchanging best practices. That means faster responses to cross-border issues, stronger alignment on enforcement strategies, and greater certainty for businesses operating globally. 


In short, these agreements make cooperation real. 
Looking to the Future 


As we look to the future, the Bureau will continue to strive to be a stabilizing force to drive our economy forward in uncertain times. I’m not saying this work will be easy—because it won’t. While we firmly believe in the value of open and competitive markets, we also recognize that competition policy does not exist in isolation. It intersects with other critical priorities where competition can too easily become an afterthought. 


Our challenge is to ensure that competition remains a core objective alongside these priorities—a driver of economic dynamism. Why? Because competitive markets fuel productivity, foster innovation, and strengthen the ability of firms to compete on a level playing field, at home and abroad. 


As I reflect on my time as Commissioner, one truth stands out: change is inevitable—but principles endure. Evidence-based enforcement and international cooperation have been our compass through turbulence, and they must remain so as we navigate what’s ahead. 


But these principles don’t happen on their own. They require commitment—from agencies, from policymakers, and from all of us in this room. This is where the IBA’s Antitrust Section plays a critical role. You bring together global expertise, foster dialogue across jurisdictions, and help shape best practices that keep competition at the heart of economic policy—even when other priorities press hard for attention. 


By championing evidence-based approaches and advocating for fair, open markets, this community strengthens the foundation we all depend on. If we do this together, we will not only adapt to change—we will shape it. And that, I believe, is the ultimate measure of success. 


Thank you again to the IBA for convening this important dialogue. I look forward to continuing our work together to promote competition in service of innovation, resilience, and prosperity. 


Thank you


    


	


    
    
    
    	
        
    

 	

    

	
    	
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Navigating Competition Challenges in Uncertain Times

At the 2025 International Bar Association Annual Conference, Matthew Boswell, the Commissioner of Competition, emphasized the critical role of competition agencies in providing stability during times of uncertainty. He highlighted the profound changes in global trade, geopolitical competition, and technological advancements, particularly in artificial intelligence, that are reshaping market dynamics.

 Boswell outlined Canada's approach to evidence-based enforcement, stressing the importance of independence from political influence while adapting to the evolving economic landscape. He noted that the Competition Bureau is enhancing its capabilities by integrating diverse skill sets, including technologists and data engineers, to effectively address complex competition issues.

 International cooperation was identified as essential for tackling cross-border competition challenges. Boswell discussed Canada's legislative amendments to the Competition Act and the importance of collaboration with other jurisdictions to ensure effective enforcement. He mentioned recent agreements with the UK and the EU aimed at facilitating information sharing and coordinated investigations.

 Looking ahead, Boswell reaffirmed the Bureau's commitment to being a stabilizing force in the economy, advocating for competitive markets that drive innovation and productivity. He called for ongoing collaboration among legal professionals and policymakers to keep competition at the forefront of economic policy.



Navigating Competition Challenges in Uncertain Times

Matthew Boswell, Commissioner of Competition, addresses the importance of stability and international cooperation for competition agencies amidst global uncertainties at the 2025 International Bar Association Annual Conference.