Free and fair competition among enterprises promotes economic efficiency, consumer choice and welfare, and economic growth and development. Competition impels companies to work as efficiently as possible and offer the most attractive price and quality options in response to consumer demand, rather than conspiring as cartels, for example, to fix prices or to block market entry. Government control and interference in domestic enterprise is significant in ASEAN, particularly with respect to agricultural production, processing, and trade. Throughout ASEAN Member States, subsidies, price controls, targeted import and export restrictions, state-owned enterprises (SOEs), and private monopolies constrain market competition.
Last updated: April 23, 2014