EU UPDATE – European Commission Signs Memorandum of Understanding with China on Antitrust
- The European Commission has signed a Memorandum of Understanding with the Chinese National Development and Reform Commission and the Chinese State Administration of Industry and Commerce.
- These anti-trust authorities seek to increase cooperation and information exchange by facilitating greater technical cooperation regarding cartels, restrictive agreements and abuses of market dominance.
- In recent years, the European Commission has engaged a variety of jurisdictions outside of the EU, such as an MOU with Russia in March of 2011 and other bi-lateral arrangements with other non-EU countries.
- The article also discusses several elements of cooperation agreements on competition. The European Commission’s appetite for formal cooperation agreements and its engagement with broader international competition issues demonstrates a commitment to promote the international harmonization of competition policy and improved coordination of completion law enforcement.