Pakistan and China are on the brink of bolstering their collaboration to combat monopolistic practices and bolster market regulation. The Competition Commission of Pakistan (CCP) is set to ink a Memorandum of Understanding (MoU) with China’s State Administration for Market Regulation (SAMR), marking a significant stride in bilateral cooperation.
The MoU, recently greenlit by the Federal Cabinet, aims to facilitate information exchange and technical capacity building between the two nations. SAMR, a ministerial-level agency under China’s State Council, is tasked with enforcing anti-monopoly laws and overseeing market regulations. The MoU’s signing is anticipated to usher in a new phase of cooperation in anti-trust endeavors between China and Pakistan.
HIGH-LEVEL STRATEGIC DISCUSSIONS AND PARTNERSHIP
Top-level talks between CCP Chairman Dr. Kabir Ahmed Sidhu and SAMR Vice Minister Gan Lin underscored the strategic significance of the partnership. Focusing on areas such as enhancing market regulation, conducting training, capacity building, sharing expertise in cartel detection, and undertaking joint research initiatives, these discussions laid the groundwork for future collaboration.
The MoU between CCP and SAMR will formalize this partnership, providing a framework for expanded cooperation. This framework will encompass bilateral meetings, training initiatives, workshops, research partnerships, knowledge sharing, information exchange, and collaboration in competition law and policy.
ADVANCING TOWARDS IMPROVED REGULATORY EFFECTIVENESS
With the imminent signing of the MoU, Pakistan and China are poised to deepen their relations and uphold fair competition within their markets. By leveraging each other’s strengths and resources, both countries aim to improve regulatory effectiveness and foster an environment conducive to economic growth and development.
This collaborative endeavor underscores the commitment of Pakistan and China to nurturing mutually beneficial alliances and advancing their shared objectives of prosperity and sustainability.
