The MoU was signed during the ongoing 3rd BRICS International Competition Conference at New Delhi today by Mr Joaquin Almunia, Vice President for Competition, EU and Mr. Ashok Chawla, Chairman, CCI.
The MoU provides for enhancement of the effective, transparent and non-discriminatory enforcement of the competition laws in the European Union and India.
The two Sides have agreed to exchange non-confidential information, experiences and views with regard to (a) Competition policy and enforcement, (b) Operational issues, (c) Multilateral competition initiatives, (d) Competition advocacy and (e) Technical cooperation initiatives in the area of competition law and its enforcement.
MoU provides for assistance to be provided between two Sides wherein on the request of one Side that may believe adverse impact of competition of its territory on account of action by the other Side, the other Side shall initiate appropriate enforcement activities as per their applicable competition law.
CCI and DG,Competition, European Commission shall also take steps to minimise any potentially adverse effects of one Side’s enforcement activities on the other Side’s interests in the application of their respective competition laws.
The MoU also provides for meetings between two Sides to
(a) discuss current issues, experiences and new developments of mutual interest with respect to competition policy development, legislation and enforcement or the operation of the present MoU;
(b) exchange non-confidential information on the competition environment in economic sectors of common interest;
(c) exchange views with respect to multilateral competition initiatives.
DG, Competition, EU and CCI, India will apply the provisions of this MoU on a voluntary basis.
Consequent to the signing of MoU between the DG, Competition, EU and CCI, the MoU has come into effect.
