ISLAMABAD: The Competition Commission of Pakistan (CCP) is set to sign a Memorandum of Understanding (MoU) with China’s State Administration for Market Regulation (SAMR), marking a significant milestone in bilateral cooperation.
The MoU, which has received the final approval from the last federal cabinet, aims to boost information sharing and technical capacity between the two nations.
China has made significant investments in Pakistan through the China-Pakistan Economic Corridor (CPEC) and different Chinese companies operating in the country. This investment is likely to increase manifold after the second stage of the mega-project. To facilitate these expanding business activities, the CCP is preparing to put in place a comprehensive regulatory and legal framework.
SAMR is a ministerial-level agency under the State Council of China responsible for regulating markets and enforcing anti-monopoly laws. The inking of the MoU is likely to usher in a new era of collaboration between Pakistan and China in the field of antitrust.
High-profile Chinese delegation’s visit
In October, a high-profile Chinese delegation led by Dr. Gan Lin, Vice Minister of SAMR, visited the CCP. Discussions between CCP Chairman Dr. Kabir Ahmed Sidhu and Vice Minister Gan Lin underlined the strategic significance of a partnership focusing on enhancing market regulations, providing capacity building and training, sharing expertise in cartel detection, and collaborating on research projects to improve regulatory efficiency.
The MoU will solidify the partnership between SAMR and CCP by establishing a framework for increased cooperation through bilateral meetings, training programmes, workshops, experience sharing, exchange of information, research collaborations, and cooperation in the field of competition law and policy.
