India and the European Union have inked an agreement to facilitate development and non-discriminatory enforcement of competition laws.
The MoU was signed by Ashok Chawla, Chairman of Competition Commission of India, and Joaquin Almunia, Vice-President for Competition, European Union, on the sidelines of the ongoing BRICS International Competition Conference here.
The MoU also provides for meetings between two sides to 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, exchange non-confidential information on the competition environment in economic sectors of common interest; exchange views with respect to multilateral competition initiatives.
CCI and European Commission’s DG (Competition) would 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 two sides will exchange non-confidential information, experiences and views pertaining to competition policy and enforcement, operational issues, multilateral initiatives, advocacy and technical co-operation.