10 December 2021
The Competition and Consumer Commission of Singapore (“CCCS”) and the Philippine Competition Commission (“PCC”) have signed a Memorandum of Understanding on Implementation of Competition Law (“MOU”) to establish a framework for cooperation for the effective enforcement of competition laws in Singapore and the Philippines. This was announced on 29 November 2021 in a media release on the CCCS website www.cccs.gov.sg.
The MOU states that CCCS and PCC will promote competition by addressing anti-competitive activities to facilitate the development and operation of well-functioning markets in their respective countries. CCCS and PCC will cooperate with and provide assistance to each other to the extent consistent with the laws and regulations in force in their respective countries, their respective important interests, and reasonably available resources. The MOU will facilitate the exchange of information between CCCS and PCC, as well as enforcement coordination for cases of mutual interest.
The MOU reflects the strengthening of the long-standing relationship between both competition authorities.
Since 2017, CCCS has entered into a cooperation agreement with the Japan Fair Trade Commission, and inked MOUs with competition regulators in Canada, Indonesia and now the Philippines. Such cooperation agreements provide CCCS with a framework to cooperate with other competition agencies on competition law enforcement, technical cooperation and experience sharing, and enhance CCCS’s capabilities to handle a broader spectrum of cases, including many which have a cross-border dimension.