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This was also the first time that the Conference was held
in Southeast Asia, where an exciting state of competition
lawdevelopments had takenplace over the last fewyears
pursuant to competition policy and law being a pillar of
the ASEAN Economic Community (“AEC”) 2015.
CONFERENCE HIGHLIGHTS
• Minister LimHng Kiang: Competition
Policy and Law Promotes Closer Economic
Integration within ASEAN
Minister for Trade and Industry (Trade), Mr Lim Hng
Kiang said in his welcome address that building on the
AEC blueprint 2015, ASEAN will further enhance and
harmonise competition policies and laws in the region
underAEC2025. Eventhoughtherearedifferences inthe
implementationof competitionpolicyand lawamong the
ASEANeconomies due to different stages of economic
development, members agree that there is a need to
have a consistent approach to reach out to relevant
stakeholders. This is to ensure that competition policy
and law is consistent andunderstoodacross the region.
CCS will contribute towards the goal of alignment
of competition policy and law in ASEAN by leading
efforts to develop an ASEAN Competition Policy and
Law (“CPL”) Programme. The CPL Programme will
promote collaboration amongst competition agencies
in ASEAN, and foster a culture of fair competition to
create a level playing field for all businesses. Closer
relationshipsbetweenbusinesses,governmentagencies
and competition authorities are the basis for greater
convergence and harmonisation of competition policy
and law regimes. This will reduce the transactional
costs and uncertainty for businesses that operate
across different jurisdictions.
• Special Plenary: Building Economic
Communities with Competition Policy
The Conference kicked off with a special plenary on
“Building Economic Communities with Competition
Policy”. The speakers were Johannes Laitenberger,
Director General, DG Competition of the European
CommissionandAmbassador OngKengYong, Ministry
of ForeignAffairs. Inhispresentation, AmbassadorOng
said thatASEAN’smillennialsarechangingmarketsand
consumption in ASEAN as they are better educated,
have higher spending power and are technologically
savvy. ASEANmillennials look for brands that resonate
with them and welcome competition and choice.
ASEAN ECONOMIC COMMUNITY (“AEC”)
The AEC aims to remove economic barriers to facilitate free flow of trade and investments in the region to pave the way for ASEAN
to achieve its economic and development goals. It also strives to transform ASEAN into a competitive regional market with free flow
of goods, services, investment, skilled labour and freer flow of capital. This allows ASEAN companies to extend their businesses
beyond national boundaries to take advantage of aggregated demand within ASEAN.
Welcome Reception at the National Gallery (26 April 2016)