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KEYNOTE ADDRESS BY
YB DATO’ HENRY SUM AGONG DEPUTY MINISTER, MINISTRY OF DOMESTIC TRADE, CO-OPERATIVES AND CONSUMERISM
FOR
7TH ASEAN COMPETITION CONFERENCE 2017
ON
08 MARCH 2017 (WEDNESDAY) SUNWAY RESORT HOTEL & SPA, BANDAR SUNWAY, SELANGOR
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A Very Good Morning & Salam 1 Malaysia,
The Honourable Tan Sri Dato’ Seri Siti Norma Yaakob,
Chairman of the Malaysia Competition Commission;
The Honourable Dato’ Basaruddin Sadali,
Deputy Secretary General (Domestic Trade), Ministry Of Domestic Trade, Co-operatives & Consumerism;
Mr. Khounchay lemsouthi,
Chair of the ASEAN Expert Group on Competition (AEGC)
Distinguished Members of the Commission;
Distinguished Speakers;
Delegates from the ASEAN Member States;
Ladies and Gentlemen,
Welcome to the 7th ASEAN Competition Conference.
- Due to unavoidable circumstances, I regret to inform that the Minister is not able to be with us this morning, nevertheless, I am honoured to be here representing the Ministry of Domestic Trade, Co-operatives and Consumerism, to witness this important event.
Ladies and Gentlemen,
- Malaysia is proud to play host to all our partners in ASEAN as this year commemorates the 50th anniversary for the establishment of the Association of Southeast Asian Nations (ASEAN). I wish to congratulate MyCC for their effort in organising this conference, not forgetting of course the invaluable support from the co-organisers, the ASEAN Experts Group on Competition, ASEAN-Australia-New Zealand Free Trade Area and GIZ.
- The Malaysian Government, through the Ministry of Domestic Trade, Co-operative and Consumerism established the Malaysia Competition Commission, also known as MyCC in 2011 with very high hopes and aspirations in implementing and enforcing the Competition Act. Over the last six challenging years, MyCC has faced numerous competition issues in various industries. I am glad to share with you that throughout all these challenges, MyCC had managed to deal successfully with a high number of contentious competition matters. The Malaysian Government will continue working together with MyCC to enhance competition law and policies, to develop and sustain a competitive marketplace through advocacy and awareness activities, as well as to educate consumers and businesses about their rights and responsibilities.
- The competition policy that MyCC implements and enforces will play a major role by ensuring that a conducive environment for consumers and businesses is maintained where innovation and progressive policies will be nurtured. MyCC has also conducted market reviews which have helped guide businesses and industries that use them as reference. MyCC also plays a role in providing advisory assistance to various government sectors to help ensure that all parties are made aware as to the workings of Competition Act 2010.
Ladies and Gentlemen,
- Research has indicated that the robustness of competition in a domestic market has a close relationship with economic growth and international competitiveness. There is a strong correlation between effective enforcement of competition policy and long-term growth. In the recent Global Competitiveness Report 2016-2017, Malaysia maintained its strong position among the world’s top 20 most competitive economies. With a population of 31 million people, a GDP of approximately USD$296 billion and a GDP per capita of USD$9500, the country is amongst the highest ranking in developing Asian economies. A strong competition law framework will only make this position stronger. In terms of regional aspirations, competition law plays a strong and important role in market integration as it enhances inter-state trade and the flow of goods and provision of services across national frontiers.
- As we move towards the establishment of the ASEAN Economic Community (AEC) in 2025, it is vital for ASEAN member states to step up integration efforts and strengthen the foundations required for a competitive and globally connected region. Under the AEC Blueprint 2015, the ASEAN Member States pledged to implement competition laws by 2015. To date, we are right on target, as nine (9) of the 10 ASEAN Member States have implemented competition laws.
- The AEC 2025 will also see steps taken towards a greater alignment of competition law of the different countries and this will result in closer cooperation among competition authorities in ASEAN. Another focus of the AEC 2025 is the development of a regional strategy on convergence to align competition policy chapters negotiated by ASEAN Member States under their respective Free Trade Agreements. Agencies will also work towards establishing competition enforcement cooperation agreements either on a bilateral or multilateral basis.
Ladies and Gentlemen,
- Competition law is now recognized as an important component in regional cooperation and integration and can be used as an enabler that can be leveraged to enhance the competitiveness of the domestic markets as well as the ASEAN region. It is also vital for ASEAN to redouble its efforts towards economic integration by laying the foundations for an integrated, competitive, equitable and globally connected region.
- ASEAN competition activities have been supported through the ASEAN-Australia-New Zealand Free Trade Area and GIZ Competition Law Implementation Program and the German Government’s Competition Policy and Law, implemented through the GIZ. We also would like to acknowledge the commitment of all ASEAN members and relevant parties for their support, dedication in order to drive to ensure the development of competition law in the ASEAN region.
- This 7th ASEAN Competition Conference is the perfect platform for us to share, learn and exchanging ideas in all of the various issues we face in our challenges a head. Let us work together towards a bigger, stronger and better ASEAN. It is with my great pleasure that I declare this 7th ASEAN Competition Conference open.
Thank you.