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United States, India sign MoU on antitrust cooperation | The United States and India have signed a Memorandum of Understanding (MoU) 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 a senior official of the Ministry of Corporate Affairs (Government
of India) signed the MOU in Washington yesterday. 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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