ISTANBUL, April 27 (Xinhua) -- An anti-protectionism conference that aims to foster global economic competition kicked off Tuesday in Istanbul.

"To put competition on hold during a crisis is the very description of failure," said Joaquin Almunia, Vice-President of the European Commission responsible for competition policy, in reference to the financial meltdown that recently hit the international markets.

Almunia remarks came at the opening of the International Competition Network's 9th annual conference.

The three-day event brings together officials, business leaders and over 600 attendees from 110 institutions from the four corners of the world.

He said the crunch was no excuse for national firms to turn their domestic markets into protectionist areas, adding "such move would cause the whole economy to suffer."

The ICN has presented a report, tracking down trends and developments in cartel enforcement in 45 countries, including Turkey and the United States as well as countries from the European Union.
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