The logistics sector plays a critical role in ASEAN integration into regional and global value chains as it currently accounts for about 5 percent of the Gross Domestic Product, GDP in ASEAN. In view of the significant role that the logistics sector play in fostering economic development, it is even more timely to ensure a well-developed and efficient logistics network, due to its impact on the economic activities, trade cost competitiveness and supply chain connectivity.
Yang Berhormat Dato Seri Setia Doctor Awang Haji Mohd Amin Liew bin Abdullah, Minister at the Prime Minister's Office and Second Minister of Finance and Economy as chairman of the ASEAN Economic Ministers Meeting stated the matter during the Launching of the Organisation for Economic Co-operation and Development, OECD Competition Assessment and Competitive Neutrality Reports on the Logistic Sector in ASEAN.
In the context of Brunei Darussalam, the Competition Commission Brunei Darussalam, CCBD, strives to work with the government to enhance synergy between competition law and competition policies to enhance market efficiencies and improve consumer welfare while maintaining healthy public finances. The CCBD will endeavour to continuously engage with relevant regulators and raise awareness on the two OECD reports. The competition assessment review is hoped to be exemplary to other sectors to promote the inclusion of competition dimension in the formulation and execution of public policies.
The minister added that the OECD and ASEAN Secretariat in embarking this project three years ago, as part of the ASEAN Competition Action Plan 2016-2025, towards a more pro-competitive regulations and elimination of competition distortions, to enhance market efficiencies. The project is consistent with the initiatives under the ASEAN Competition Action Plan 2025, which relate to reducing anti-competitive regulation and enhancing competitive neutrality for state-owned enterprises, so as to improve the business environment by creating a level playing field for businesses, foster trade and reduce inequality. The Project is implemented by the OECD with the support from the ASEAN Experts Group on Competition, AEGC and the UK Government with funding from the UK Prosperity Fund.
Source: Radio Television Brunei