EU adopts proposals for EU-UK Competition Cooperation Agreement

It covers mutual notification of major antitrust and merger investigations and enables coordination where necessary to prevent jurisdictional conflicts. The exchange of confidential information under the agreement will still require the consent of the companies concerned, the European Commission said in a press release.

The agreement will be a ‘supplementing agreement' to the EU-UK Trade and Cooperation Agreement, which provides for competition cooperation and coordination and foresees the possibility to enter into a separate agreement on competition cooperation.

Following the finalisation of technical negotiations in October 2024, the agreement will enter into force once both sides complete their ratification procedures. The Council must first adopt a decision to formally sign the agreement, followed by a conclusion decision that also requires the European Parliament’s consent.

This development stems from the council’s June 2023 decision authorising the commission to initiate talks with the UK.

“This agreement shows our shared and strong commitment to continue working together for effective and balanced competition enforcement, including in the digital sector, and to ensure a level playing field in Europe. It shows that we recognise the importance of cooperation in competition enforcement between our closely related jurisdictions, to the ultimate benefit of consumers, businesses and innovation overall,” said Teresa Ribera, executive vice-president for Clean, Just and Competitive Transition.

Fibre2Fashion News Desk (SG)