ISLAMABAD: The Competition Commission of Pakistan (CCP) will sign a Memorandum of Understanding (MoU) with China’s State Administration for Market Regulation (SAMR) to facilitate Chinese investment in Pakistan.
According to the details released by the CCP, China has made significant investments in Pakistan through the China-Pakistan Economic Corridor (CPEC) and various Chinese companies operating in the country. This investment is expected to increase manifold after the second stage of CPEC. To facilitate these expanding business activities, the CCP is preparing to put in place a comprehensive legal and regulatory framework.
The CCP is poised to sign a Memorandum of Understanding (MoU) with China’s State Administration for Market Regulation (SAMR), marking a significant milestone in bilateral cooperation. The MoU, which has received the final approval from the last Federal Cabinet, aims to enhance information sharing and technical capacity between the two countries.
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SAMR is a ministerial-level agency under China’s State Council responsible for enforcing anti-monopoly laws and regulating markets. The signing of the MoU is expected to usher in a new era of collaboration between China and Pakistan regarding anti-trust matters.
On October 19, 2023, a high-profile Chinese delegation led by Dr Gan Lin, Vice Minister of SAMR visited the CCP. Discussions between CCP Chairman Dr Kabir Ahmed Sidhu and Vice Minister Gan Lin highlighted the strategic importance of a partnership focusing on enhancing market regulations, providing training and capacity building, sharing expertise in cartel detection, and collaborating on research projects to improve regulatory efficiency.
The MoU will solidify the partnership between CCP and SAMR by establishing a framework for enhanced cooperation through bilateral meetings, training programs, workshops, research collaborations, experience sharing, exchange of information, and cooperation in the field of competition law and policy, CCP added.
Copyright Business Recorder, 2024