Southeast Asia Information Port (www.dnyxxg.com) – Cambodia and the Hong Kong Special Administrative Region successfully signed a Memorandum of Understanding (MOU) on cooperation in the field of competition law on November 12, marking a significant step forward in promoting the effective implementation of competition policy and cross-border law enforcement cooperation.
The signing ceremony was held at the Cambodian Ministry of Commerce on the morning of the same day. Cambodian Minister of Commerce and Chairman of the Cambodian Competition Commission (CCC), Chan Nee Moe, and Mr. Chan Ka Yin, Chairman of the Hong Kong Competition Commission, formally signed the cooperation document on behalf of their respective parties.
This MOU establishes a formal cooperation framework between the Cambodian Competition Commission and the Hong Kong Competition Commission. Key areas of cooperation include: promoting timely sharing of information related to competition enforcement; conducting technical exchanges and cooperation to jointly address emerging competition challenges; and enhancing the professional capabilities of law enforcement personnel from both sides through training and knowledge sharing.
The MOU aims to improve the effectiveness of competition law enforcement in both jurisdictions and ensure fair market competition.
At the signing ceremony, Minister Chan Neemo emphasized that in the current complex economic environment, no competition authority can independently address the challenges of cross-border competition; therefore, cooperation and knowledge sharing between competition authorities are crucial.
She pointed out that this cooperation document reflects Cambodia's firm commitment to strengthening institutional capacity building and aligning with international best practices. Collaboration with the Hong Kong Competition Commission will help ensure that enforcement standards and methods are consistent in handling cross-border cases, improve enforcement efficiency, and avoid wasting resources.
Minister Chan Neemo further elaborated that fair competition is a key driver of sustainable economic growth; it not only incentivizes innovation and improves economic efficiency but also effectively protects the legitimate rights and interests of consumers.
This cooperation not only lays a solid foundation for long-term cooperation between Cambodia and Hong Kong in the field of competition law but will also make a positive contribution to promoting a fair and just market competition environment and building a transparent global free trade system.
