The Inter-American Development Bank (IDB) and the Organisation for Economic Co-operation and Development (OECD) co-operate in competition law and policy to promote increased economic growth, employment and economic efficiency, and a higher average standard of living in the medium to long term. There is increasing consensus that sound competition law and policy are essential to achieving these goals.IDB-OECD co-operation in competition law and policy centres on annual meetings of the Latin American Competition Forum (LACF). LACF meetings include substantive roundtable discussions and peer reviews of national laws and institutions. The OECD and the IDB are pleased to participate in this work as part of their efforts to promote a better business climate for investment in the countries of Latin America and the Caribbean.