ASEAN Charts New Era for Region’s Economic Resilience

11^th ASEAN Competition Conference Opens with Launch of ACAP 2030 and AI Innovation Toolkit

(View Media Release in PDF)

1. The 11^th ASEAN Competition Conference (“ACC”) opened today in Singapore, hosted by the Competition and Consumer Commission of Singapore (“CCCS”). The flagship event of the ASEAN Experts Group on Competition (“AEGC”) brings together policymakers, business leaders, competition practitioners, academics, and international partners to discuss the latest competition policy developments across the region.

2. Themed "A New Era for Competition Policy in ASEAN", the 1½ -day conference^[1] explores how competition policy and enforcement can be harnessed to build a more resilient and inclusive regional economy. The conference comes at a critical time as ASEAN navigates unprecedented global challenges, from pandemic disruptions to mounting geopolitical tensions and rising trade barriers that have reshaped international trade patterns and revealed vulnerabilities in Global Value Chains.

3. Speaking at the ACC opening this morning, Senior Minister of State for Trade and Industry, Ms Low Yen Ling emphasised that ASEAN must continue upholding competitive markets to thrive in the global economy. She also noted that fostering competitive markets and removing barriers to fair competition can contribute to greater Global Value Chain resilience in ASEAN, which is projected to generate up to US$540 billion in net economic value and create 12 million new jobs by 2030. 

Strengthening Regional Enforcement

4. The conference saw the launch of the ASEAN Competition Action Plan (“ACAP”) 2026-2030, outlining ASEAN’s strategic direction for deepening regional cooperation, and enhancing enforcement coordination. Implemented by the AEGC, the ACAP contributes towards achieving an enterprising, bold, and innovative ASEAN Community whilst cultivating innovation-driven market dynamics across the region.  

AI Markets Toolkit Launch

5. CCCS will unveil its AI Markets (“AIM”) Toolkit, developed in collaboration with the Infocomm Media Development Authority (“IMDA”). The voluntary self-assessment tool helps businesses evaluate their AI models and practices for competition and consumer protection compliance through process checks and technical tests. "The tool balances innovation and regulatory compliance for sustainable AI growth, creating a trusted environment that prevents anti-competitive practices and protects consumer interests," Ms Low explained.

Strategic Focus on Cross-Border Cooperation

6. CCCS Chairman Mr Max Loh emphasised the evolving nature of competition challenges in his welcome remarks, noting that "digital markets now transcend national boundaries, creating enforcement challenges that no single authority can address alone." He highlighted that Micro, Small, and Medium Enterprises (“MSMEs”), which represent over 95% of ASEAN businesses and form the backbone of ASEAN economies, particularly benefit from fair competition policies. 

7. Throughout the conference, participants will explore how competition policy and enforcement can be harnessed to build a more resilient and inclusive regional economy.

8. "CCCS is proud to host this landmark conference as ASEAN enters a new era of competition policy cooperation, marked by the ACAP 2026-2030 and the launch of innovative tools like our AI Markets Toolkit," said CCCS Chief Executive, Mr Alvin Koh. "The 11th ACC demonstrates our collective commitment to building resilient, inclusive markets that enable businesses of all sizes to thrive in an increasingly interconnected regional economy."

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About the Competition and Consumer Commission of Singapore

The Competition and Consumer Commission of Singapore (“CCCS”) is a statutory board of the Ministry of Trade and Industry. Our mission is to make markets work well to create opportunities and choices for businesses and consumers in Singapore. 

CCCS administers and enforces the Competition Act 2004 and the Consumer Protection (Fair Trading) Act 2003, to guard against anti-competitive activities and unfair trade practices. Additionally, CCCS ensures that businesses observe fair trade measurement practices by administering the Weights and Measures Act 1975, and ensures the supply of safe consumer goods by enforcing and implementing the Consumer Protection (Trade Descriptions and Safety Requirements) Act 1975 and its associated Regulations. 

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

^[1] The 1½ -day ACC is complemented by a ½ day CCCS Conference that takes place on 25 Sep after ACC. Details of the two conferences can be found at https://celebrate20.cccs.gov.sg/