CCCS Hosts the 16th East Asia Top Level Officials’ Meeting on Competition Policy and 13th East Asia Conference on Competition Law and Policy

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1. The Competition and Consumer Commission of Singapore (“CCCS”) hosted the 16^th East Asia Top Level Officials’ Meeting on Competition Policy (“EATOP”) and 13^th East Asia Conference on Competition Law and Policy (“EAC”) on 28 and 29 September 2021 respectively. Held in collaboration with the Japan Fair Trade Commission and the Asian Development Bank Institute, the EATOP brought together heads of competition agencies in East Asia virtually for the first time to discuss key developments on competition policy and law amidst the Covid-19 pandemic.

2. “CCCS is honoured to host some 60 senior officials from ASEAN, Australia, Chinese Taipei, Hong Kong, Japan, Korea, Mongolia, and New Zealand who are attending the EATOP virtually for the first time. Despite the disruption brought about by the Covid-19 pandemic, advancements in technology have provided like-minded competition agencies in the region a rare opportunity to engage in a dialogue on ongoing competition enforcement challenges,” Ms Sia Aik Kor, Chief Executive of the CCCS said.

3. “Competition agencies should consider how the Covid-19 pandemic may impact competition law enforcement in the long-term, given that the business landscape is changing rapidly and may be permanently altered as a result of the pandemic. In this regard, it is essential for competition frameworks of economies to remain relevant and robust to handle complex cases arising from the digital economy,” Ms Sia added.

4. CCCS also welcomed government officials, business leaders, competition practitioners and academics to discuss how digital technologies have impacted competition policy and law in East Asia at the 13^th EAC, which was held in conjunction with the 16^th EATOP.

5. “Opportunities for candid dialogue between antitrust enforcers and competition practitioners at the EAC help to bridge the gap between government agencies   and businesses in tackling competition issues in the digital economy and in ensuring certainty when businesses apply the rules,” Mr Max Loh, Chairman of the CCCS said.

6. “Ultimately, an effective and robust competition regime will foster a healthy and competitive marketplace which encourages economic growth, as well as increased vibrancy and innovation in our economies,” Mr Loh added.

7. Established in 2005, the EATOP is an annual closed-door event that has been instrumental in facilitating discussions and exchanges on competition issues among senior officials from East Asian competition law agencies and competition related authorities to strengthen cooperation in the region. The next EATOP will be hosted by the Philippine Competition Commission in 2022.

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About the Competition and Consumer Commission of Singapore (CCCS)

CCCS is a statutory board established under the Competition Act (Chapter 50B) on 1 January 2005 to administer and enforce the Act. It comes under the purview of the Ministry of Trade and Industry. The Act empowers CCCS to investigate alleged anti-competitive activities, determine if such activities infringe the Act and impose suitable remedies, directions and financial penalties. CCCS is also the administering agency of the Consumer Protection (Fair Trading) Act (Cap. 52A) which protects consumers against unfair trade practices in Singapore. Our mission is to make markets work well to create opportunities and choices for business and consumers in Singapore.

For more information, please visit www.cccs.gov.sg.

About the Japan Fair Trade Commission (JFTC)

The JFTC is an independent administrative commission responsible for enforcing Japan’s Antimonopoly Act and its related laws. The JFTC supervises the functions of the market, economy and business activities to prevent or detect acts against the Antimonopoly Act, and strictly regulates and takes measures against illegal acts, if any.

For more information, please visit www.jftc.go.jp/en

About the Asian Development Bank Institute (ADBI)

The ADBI was established in 1997 in Tokyo, Japan. Its objectives are to identify effective development strategies and improve the capacity for sound development of the agencies and organisations engaged in development work in the Asian Development Bank’s developing member countries.

For more information, please visit www.adb.org/adbi/main