KUALA LUMPUR: The Malaysia Competition Commission (MyCC) and its Hong Kong counterpart, the Hong Kong Competition Commission, have signed a memorandum of understanding (MOU) to strengthen cooperation on competition policy, legal frameworks and enforcement.
Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali (pic) said the MOU was the fourth such collaboration between MyCC and foreign competition authorities, following similar agreements with the Turkiye Competition Authority, Korea Fair Trade Commission and Philippine Competition Commission.
He said the MOU reflected the government’s commitment to working with international competition authorities to preserve and promote fair and healthy competition.
“In an increasingly complex and interconnected economic environment, competition issues involve businesses and entities that cross borders.
“International cooperation among competition authorities is vital to ensure market developments and enforcement challenges are addressed more effectively,” he said in a statement, Bernama reported.
He said the cooperation would involve exchanging information on key competition law developments, including legislative amendments, and sharing investigative experience with other enforcement agencies.
Both parties would also collaborate on technical matters to boost enforcement capacity through training, workshops, officer secondments and research.
Armizan added that the ministry, through MyCC, would continue strengthening ties with regional and international competition authorities.
