BANGKOK, Thailand – Thailand is moving forward with participation in the ASEAN Framework Agreement on Competition (AFAC) to promote fair competition, strengthen regional cooperation, and enhance opportunities for Thai businesses in the ASEAN market. Deputy Government Spokesperson Lalida Perisvivatana announced that Deputy Prime Minister and Minister of Commerce Suphajee Suthumpun has approved a proposal by the Ministry of Commerce, through the Office of Trade Competition Commission (OTCC), to submit the agreement to the Cabinet for consideration.
AFAC seeks to establish a fair, transparent, and non-discriminatory business environment, and to strengthen cooperation among ASEAN competition authorities in addressing anti-competitive practices with cross-border impacts. The framework also supports deeper ASEAN economic integration. According to the deputy spokesperson, the agreement focuses on SMEs by promoting a better understanding of competition policies and laws and by providing opportunities for businesses and stakeholders to engage in competition-related matters.
Cooperation on enforcement will respect confidentiality, domestic laws, and the sovereignty of each member state. Thailand can implement the framework under the Trade Competition Act B.E. 2560 (2017) and related laws without requiring new legislation. The deputy spokesperson stated that participation in AFAC is expected to strengthen competition standards, boost investor confidence, and improve the competitiveness of Thai businesses, especially SMEs, within the region.
Nine other ASEAN countries have signed AFAC: Brunei Darussalam, Cambodia, Lao PDR, Malaysia, the Philippines, Singapore, Indonesia, Myanmar, and Vietnam. The Thai Minister of Commerce or a designated representative will sign the agreement on behalf of Thailand, pending the issuance of full powers by the Ministry of Foreign Affairs. (NNT)
