Asean renews commitment to fair markets amid global disruption

The competition authorities of Asean have launched a five-year plan to ensure that businesses operating in the region have access to fair markets.

- Annabelle Liang Correspondent

It includes directives to strengthen enforcement against monopolistic activities and improve cooperation on matters like information sharing.

Officials will also engage micro businesses, small and medium-sized enterprises, the judiciary and consumers on the benefits of competition.

In addition, they will look at ways to promote fair competition in emerging areas like artificial intelligence, sustainability and digital markets.

Mr Din Virak, an independent commissioner of the Cambodia Competition Commission, told a conference in Singapore on Sept 24 that the 2026-2030 plan was created for a world at a “critical inflection point”.

He added: “The global and regional economies are undergoing a shift driven by the aftershock of the pandemic, geopolitical uncertainty, digital transformation and the growing urgency for inclusive and sustainable growth.