CCP Establishes First International Collaboration with Chinese Market Regulator
Published on: June 12, 2024.
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The Competition Commission of Pakistan (CCP) has taken a significant step in strengthening bilateral cooperation with China’s State Administration for Market Regulation (SAMR). During the visit of Prime Minister Shehbaz Sharif, CCP signed a Memorandum of Understanding (MoU) with SAMR to enhance collaboration in the field of competition law and policy.
SAMR, a ministerial-level agency under China’s State Council, is responsible for enforcing anti-monopoly laws and regulating markets. This MoU signifies a new chapter in anti-trust activities between Pakistan and China, highlighting the strategic importance of this partnership.
Last year, a high-profile Chinese delegation, led by Dr. Gan Lin, Vice Minister of SAMR, visited CCP. Discussions between CCP Chairman Dr. Kabir Ahmed Sidhu and Vice Minister Gan Lin emphasized the need for a partnership that focuses on enhancing market regulations, providing training and capacity building, sharing expertise in cartel detection, and collaborating on research projects to improve regulatory efficiency.
With China’s substantial investments in Pakistan, particularly through the China-Pakistan Economic Corridor (CPEC), the CCP is developing a comprehensive legal and regulatory framework to accommodate this growth. The MoU outlines a framework for cooperation through bilateral meetings, training programs, workshops, research collaborations, and information exchange.
The primary aim of this MoU is to ensure the effective enforcement of competition law, which is crucial for market efficiency and consumer welfare. By fostering technical collaboration and information sharing, this partnership will strengthen bilateral ties and create favorable conditions for economic development.
This MoU holds great significance as it is the first international MoU in the CCP’s 16-year history. Additionally, the CCP is set to sign MoUs with competition agencies of Russia, Turkey, and Egypt in the near future.
Overall, this MoU marks a new era of collaboration between Pakistan and China, promoting stronger economic ties and mutual benefits through enhanced cooperation in competition law and policy.
Source: [Profit Pakistan Today](https://profit.pakistantoday.com.pk/)
