The United States and India
have signed a Memorandum of Understanding on Antitrust Cooperation that aims to
facilitate greater cooperation between the U.S. and Indian competition
authorities. The Chairperson Federal Trade Commission (FTC) Jon Leibowitz and the United States Department of Justice
Acting Assistant Attorney General, Joseph Wayland from the US side and
Competition Commission of India Chairman Ashok Chawla
and the Ambassador of India for the Ministry of Corporate Affairs (Government
of India) signed this Memorandum of Understanding. The MOU was signed in Washington DC
on 27th September, 2012. The signing took place in the
presence of senior officers from the US Department of State, the US Federal
Trade Commission, US Department of Justice and the Embassy of India.
The U.S. and Indian
competition authorities desire to enhance the effective enforcement of their
competition laws by creating a framework that provides for enforcement cooperation.
The two countries have recognized that it is also in their common interest to
work together in technical cooperation activities related to competition law
enforcement and policy.
The U.S. and Indian
competition authorities intend to cooperate to enhance the effective
enforcement of their competition laws, to share and to keep each other informed
of significant competition policy and enforcement developments. They also plan
to evaluate the effectiveness of the cooperation under this Memorandum on a
regular basis to ensure that their expectations and needs are being met.
This
cooperation aims to enhance an environment in which the sound and
effective enforcement of competition law and policy supports the efficient
operation of markets and economic welfare of the citizens. The cooperation
between the two countries shall also establish good communications between
the U.S.
and Indian competition authorities on competition law and policy towards
improving and strengthening the relationship between the two countries.
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