The Philippine Competition Commission (PCC) has signed a memorandum of understanding with China’s State Administration for Market Regulation (SAMR) to strengthen both countries’ bilateral cooperation on competition law enforcement.
The accord was signed in Manila on Tuesday, November 19, the PCC said in a statement on Wednesday. PCC Chairman Arsenio Balisacan and SAMR Minister Xiao Yaqing led the signing ceremony.
Both antitrust authorities agreed to lay down a general framework for cooperation in competition enforcement, including exchange of information, coordination of enforcement activities, notification of cases of mutual interest, as well as technical cooperation and capacity building.
“Our MoU marks the start of a productive partnership between the PCC and SAMR, recognizing that international cooperation is essential to safeguard competition in today’s increasingly borderless and dynamic markets,” Balisacan said.
The move is part of PCC’s strategy to work closely with international counterparts, including an active engagement with the ASEAN Experts Group on Competition, the International Competition Network (ICN), the United Nations Conference on Trade and Development (UNCTAD), and the Organisation for Economic Co-operation and Development (OECD) Competition Division.
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