KUALA LUMPUR, Oct 1 (Bernama) -- The Malaysia Competition Commission (MyCC) and the Competition and Consumer Commission of Singapore (CCS) today signed a Memorandum of Understanding (MoU) to deepen cooperation in areas of common interest amid growing cross-border business activities
The MoU provides a framework for both authorities to cooperate in the exchange of information and experience, knowledge sharing, capacity building, technical cooperation and enforcement matters involving cross-border dimensions, subject to their respective laws and confidentiality requirements.
MyCC said in a statement today that the cooperation is particularly relevant given the significant flow of business activities between Malaysia and Singapore, with companies operating in one market also having a presence or commercial interests in the other.
“Developments in technology and digital markets are also continuing to reshape the way goods and services are offered across borders.
“Beyond enforcement cooperation, the MoU provides opportunities for officials from both authorities to exchange perspectives on developments in competition law and policy, share institutional experience and build expertise in areas of mutual interest,” it said.The MoU was signed by MyCC Chief Executive Officer Datuk Iskandar Ismail and CCS Chief Executive Alvin Koh and witnessed by Domestic Trade and Cost of Living Ministry Secretary-General Datuk Seri Mohd Sayuthi Bakar and Singapore’s Ministry of Trade and Industry Permanent Secretary Dr Beh Swan Gin.
The agreement marks MyCC’s fifth international MoU and another milestone in its efforts to expand and deepen engagement with competition authorities internationally.
Iskandar described the MoU as an important progression in the longstanding relationship between MyCC and CCS, noting that international cooperation has become increasingly important as competition authorities encounter conduct and market developments that may extend beyond national borders.
“Strong competition enforcement is built not only on the laws we administer but also on the strength of the institutions entrusted to enforce them.
“For MyCC, this MoU is an opportunity to look beyond our own experience, learn from different approaches and continue raising the standard of how we carry out our mandate for the benefit of the rakyat,” he said.
-- BERNAMA