ISLAMABAD: China’s substantial investments in Pakistan, particularly through the China-Pakistan Economic Corridor (CPEC), have laid the groundwork for robust economic collaboration between the two nations. Anticipating a surge in business activities following the second phase of CPEC, the Competition Commission of Pakistan (CCP) is gearing up to establish a comprehensive legal and regulatory framework to support this growth.
As per details, in a significant development, the CCP is on the verge of signing a Memorandum of Understanding (MoU) with China’s State Administration for Market Regulation (SAMR), signaling a milestone in bilateral cooperation. With the final approval from the Federal Cabinet secured, the MoU aims to bolster information exchange and technical capabilities between Pakistan and China.
SAMR, a ministerial-level agency accountable for enforcing anti-monopoly laws and overseeing market regulations in China, holds strategic importance in fostering fair competition. The forthcoming signing of the MoU is expected to pave the way for intensified collaboration between the two countries in the realm of anti-trust measures.
A pivotal meeting between CCP Chairman Dr. Kabir Ahmed Sidhu and Vice Minister of SAMR, Dr. Gan Lin, on October 19, 2023, underscored the mutual commitment to strengthening market regulations.
Discussions centered on key areas such as enhancing regulatory frameworks, providing training initiatives, sharing expertise in cartel detection, and jointly undertaking research projects to enhance regulatory efficacy.
The MoU will formalize and deepen the partnership between CCP and SAMR, establishing a structured framework for collaboration through bilateral meetings, training programs, workshops, research endeavors, and information exchange.
This collaboration is poised to bolster both countries’ capabilities in competition law and policy, fostering a conducive environment for fair market practices and economic growth.
