The organizations in charge of making sure businesses compete fairly in Cambodia and Hong Kong have just made their partnership official.
The Cambodia Competition Commission (CCC) and the Competition Commission of Hong Kong (HKCC) signed a document called a Memorandum of Understanding (MoU). This agreement basically locks in their plan to work together on competition policy and enforcing the rules.
The signing ceremony happened this morning at the Ministry of Commerce. The agreement was signed by Mrs. Cham Nimul, who is Cambodia’s Minister of Commerce and the Chairwoman of the CCC, and Mr. Samuel Chan, the Chairman of the HKCC.
What the Agreement Will Do
This new agreement creates a formal way for the two groups to cooperate. Their main areas of focus will be:
- Sharing Information: They’ll swap important data and ideas so they can better understand how markets work and spot any unfair, anti-competitive behavior.
- Working Together on Cases: They will help each other analyze complicated cases and figure out the best ways to enforce the rules.
- Training Staff: They will run joint activities to make sure their employees have the best skills to effectively enforce competition law in their countries.
Why This Partnership Matters
Minister Cham Nimul emphasized that sharing knowledge and supporting each other is incredibly important for organizations that regulate competition.
She said this agreement is a big step that shows both Cambodia and Hong Kong are dedicated to improving their systems to meet top international standards.
The Minister pointed out that no single regulatory body can succeed on its own. Partnerships like this help ensure that their rules are enforced consistently, and they prevent confusion or overlapping efforts when dealing with business cases that cross borders.
She also stressed a key point: fair competition is essential for a healthy economy. It encourages companies to be innovative and efficient, and it ultimately benefits the customers.
Mrs. Cham Nimul is confident that this cooperation will build a strong, lasting relationship between Cambodia and Hong Kong, helping to promote open and transparent markets globally.