Singapore: CCS pushes for harmonized competition policy in ASEAN

The Competition Commission of Singapore will lead efforts to develop an ASEAN Competition Policy and Law Programme to boost closer collaboration among competition agencies in ASEAN, and foster a culture of fair competition to create a level playing field for all businesses in the region, said Trade and Industry Minister Lim Hng Kiang yesterday.

“Closer relationships between businesses, Government agencies and competition authorities are the basis for greater convergence and harmonisation of competition policy and law regimes,” said Mr Lim at the International Competition Network’s annual conference, which CCS is hosting this year. “This would reduce the transactional costs and uncertainty for businesses that operate across different jurisdictions,” he added.

Other CCS initiatives include a toolkit for Asean states carrying out their competition advocacy plans, including guidelines on which stakeholders to approach.

The ICN, which was launched in 2001 to promote competition law enforcement, started its three-day conference at Marina Bay Sands yesterday. Around 450 international delegates are here to discuss competition law and policy issues.

This is the first time the ICN has held the conference in South-east Asia, a “timely” move given that “competition policy and law is growing in importance in Asean, and is regarded as one of the pillars of the Asean single market”, said CCS chairman Aubeck Kam.

Full Content: The Straits Times

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