PHNOM PENH — In a significant move to foster fair market practices and bolster economic cooperation, Cambodia and Hong Kong have formally established a partnership aimed at enhancing the enforcement of competition law within their respective jurisdictions. The collaboration was cemented through the signing of a Memorandum of Understanding (MoU) between the Cambodia Competition Committee (CCC) and the Hong Kong Competition Commission (HKCC).
The crucial agreement was formally endorsed by Ms. Cham Nimul, the Cambodian Minister of Commerce and concurrently the Chairperson of the Cambodia Competition Committee. Representing Hong Kong, Mr. Samuel Chan, Chairman of the Competition Commission of the Hong Kong Special Administrative Region, China, co-signed the MoU. The signing ceremony took place at the Ministry of Commerce on the morning of November 12, marking a new chapter in the bilateral economic relationship. This significant development was announced via an official press release issued by the Ministry of Commerce.
The Ministry of Commerce elaborated on the specifics of the MoU, highlighting its primary objective: to establish a comprehensive formal framework for cooperation between the two competition authorities. This framework is designed to facilitate robust information exchange, foster technical collaboration on complex competition issues, and significantly enhance the capacity building of officials in both Cambodia and Hong Kong. Ultimately, the core aim is to ensure the effective and consistent enforcement of competition law across both jurisdictions.
During the signing event, Minister Cham Nimul underscored the pivotal role of collaboration, knowledge exchange, and reciprocal support among international competition bodies. She articulated, “This Memorandum of Understanding embodies a collective vision and a resolute commitment to bolstering our institutional capabilities and adhering to global best practices in competition enforcement.” The Minister further emphasized that in today’s interconnected economic landscape, no single competition authority can truly succeed in its mission without fostering strong, cooperative relationships with its counterparts globally.
Minister Nimul further explained that this strategic partnership with the Hong Kong Competition Commission is anticipated to fortify bilateral cooperation, promote greater consistency in the application of competition laws, and effectively prevent jurisdictional overlaps in complex cross-border infringement cases. She highlighted the indispensable role of robust competition in driving sustainable economic growth, fostering innovation, enhancing market efficiency, and ultimately improving consumer welfare. Ms. Cham Nimul concluded by expressing her confidence that this collaboration with the HKCC on competition law enforcement will establish a durable foundation for a long-term, fruitful partnership between Cambodia and Hong Kong. It is expected to significantly advance the cause of fair and equitable competition, thereby contributing meaningfully to broader international endeavors aimed at fostering free, open, and transparent global markets.
