Antitrust Law Daily Wrap Up, ANTITRUST NEWS: FTC, Justice Department sign cooperation agreement with Colombia’s antitrust agency, (Sep 16, 2014)
Organizations Mentioned:United States Trade Representative
By Edward L. Puzzo, J.D.
The FTC and the Department of Justice Antitrust Division have signed a cooperation agreement with Colombia’s antitrust agency, the Superintendence of Industry and Commerce, the FTC and Department of Justice announced today.
The new agreement contains provisions for antitrust enforcement cooperation and coordination, conflict avoidance and consultations with respect to enforcement actions, and technical cooperation and confidentiality protections. The agreement is similar in substance to those previously signed by the U.S. antitrust agencies with other jurisdictions in the Americas, including Brazil, Canada, Chile, and Mexico.
The U.S. and Colombia’s antitrust agencies have built a strong enforcement relationship over the years, both bilaterally and under the terms of the U.S.-Colombia Trade Promotion Agreement. The new agreement does not change existing law in either country. Colombia has had a law dedicated to the preservation of competition since 1959.
The antitrust cooperation agreement was signed by Assistant Attorney General Bill Baer on behalf of the Department of Justice, Chairwoman Edith Ramirez on behalf of the Federal Trade Commission, and Pablo Felipe Robledo, Colombia’s Superintendent of Industry and Commerce.
“Colombia has a well-developed competition regime, and we have a strong working relationship with its competition agency,” said Ramirez. “We look forward to working with the Superintendence to advance our shared goal of promoting convergence around sound competition policy throughout the hemisphere.”
“The Colombians have a proven antitrust system, and this agreement will allow us to work more closely with our colleagues in Bogotá,” said Baer. “Enforcement cooperation based on sound policies is critical to maintaining competitive markets in the Americas, particularly for economies as linked as ours.”
According to the Office for the United States Trade Representative, Colombia is currently the United States’ 21st-largest goods trading partner, with $40 billion in total (two way) goods trade during 2013. Goods exports totaled $19 billion, while imports totaled $22 billion.
News: FederalTradeCommissionNews AntitrustDivisionNews