New Delhi, Jan 2 (KNN) Vice President of the European Commission in charge of competition policy J Almunia and Chairman of the Competition Commission of India (CCI) Ashok Chawla have signed a Memorandum of Understanding (MoU) on cooperation between the EU and Indian competition authorities.

Under the MoU, the Directorate General for Competition of the European Commission (DG COMP) and CCI have agreed to exchange non-confidential information on competition policy/legislation and enforcement, multilateral competition initiatives, competition advocacy and technical cooperation in relation to competition law enforcement.
 
During his visit to India on 21-22 November 2013 a positive step in the direction of enhancing fair competition and cooperation between the two sides was taken. The EU is currently funding a programme to enhance cooperation between the two bodies in the field of competition. Both sides look forward to supporting these activities and building upon them in the common interest of the EU and India.
 
The MoU allows one competition authority to request the other authority to carry out enforcement activity in its territory under its applicable competition law, if the requesting competition authority believes that anti-competitive actions are being carried out in the territory of the other.
It also provides a mechanism by which the two authorities can avoid conflicts between their respective enforcement activities. DG Comp, and CCI, India will apply the provisions of this MoU on a voluntary basis.

Commission Vice President said, “The Memorandum of Understanding is an important step and a sign of our commitment to further deepen our already excellent relations with the Competition Commission of India. It will give new impetus to our cooperation with India in the enforcement of our respective competition laws.” (KNN Bureau)