Brussels, 29 October 2024
Today, the European Commission and the UK finalised the technical discussions on a competition cooperation agreement between the EU and the UK. The competition cooperation agreement will be a ‘supplementing agreement’ to the EU-UK Trade and Cooperation Agreement (‘TCA’), which foresees the possibility to enter into a separate agreement on competition cooperation.
The future competition cooperation agreement will allow the Commission, the national competition authorities of the EU Member States (‘NCAs’) enforcing EU competition law, and the UK Competition and Markets Authority to cooperate directly in competition investigations. It is the first EU competition cooperation agreement enabling also NCAs to cooperate directly with a third country competition authority, as is foreseen by the TCA for the UK.
The cooperation agreement will set out that important antitrust and merger investigations are brought to each other’s attention. It will also allow the coordination of investigations between the jurisdictions involved when necessary and set out clear principles of cooperation aimed at avoiding any conflicts between jurisdictions. Regarding the exchange of confidential information, the consent of the undertaking providing the information will continue to be required (so-called ‘waiver’).
Next steps
The agreement will enter into force after both the EU and the UK have finalised their ratification procedures. As a next step, the Commission will prepare proposals for Council’s decisions to sign and conclude the agreement. The consent of the European Parliament will also be required.
Background
This agreement follows a Council Decision of June 2023 authorising the Commission to open negotiations with the United Kingdom. At the third meeting of the TCA Partnership Council on 16 May 2024, both parties welcomed the start of negotiations on the competition cooperation agreement between the EU and UK and hoped the agreement would be concluded as soon as feasible.
Quote:
With this agreement, the EU and the UK will work together on competition matters in a predictable and transparent framework, exploiting the full potential of the TCA. This agreement strengthens our relationship and will help to ensure that enforcement is coordinated between our jurisdictions, to the ultimate benefit of European business and consumers.
Margrethe Vestager, Executive Vice-President in charge of competition policy
Source – EU Commission