Antitrust Cooperation Agreement Signed with Chile

The antitrust cooperation agreement signed between the U.S. and Chile will enable the antitrust agencies in the two countries to improve their law enforcement relationship. The new agreement contains provisions for antitrust enforcement cooperation and coordination, conflict avoidance and consultations with respect to enforcement actions, and technical cooperation and is subject to effective confidentiality protections.

The U.S. antitrust agencies and Chile’s Office of the National Economic Prosecutor, the agency that enforces Chile’s competition law, have steadily improved their ties, both bilaterally and under the terms of the U.S.-Chile Free Trade Agreement.

Highlights of the new antitrust cooperation agreement include: Mutual acknowledgment of the importance of antitrust cooperation, including information sharing and possible coordination of enforcement actions when pursuing enforcement activities with regard to related matters; Agreement to take each others’ important interests into account in order to minimize possible conflicts arising out of antitrust enforcement actions; and Agreement to maintain the confidentiality of any sensitive information provided by the other party.

The antitrust cooperation agreement does not change existing law in either country. Chile has had a law dedicated to the preservation of competition since 1973. This antitrust cooperation agreement is similar in substance to those previously signed by the U.S. antitrust agencies with Brazil, Canada, the European Union (EU), Israel, Japan and Mexico.

SOURCE: DOJ

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