The countries that sign the agreement undertake to recognize cooperation and coordination in activitiesdes mutual application of competition laws.
The Government approved the entry into force of the Mercosur Competition Defense Agreement starting April 7, 2024. The agreement occurs within the framework of a contract between Argentina, Brazil, Paraguay and Uruguay with which, “considering that the free movement of goods and services between the States Parties”, the aim is to ensure adequate conditions of competition capable of contributing to the consolidation of the Customs Union.
To this end, the countries that sign the agreement undertake to recognize cooperation and coordination in activities mutual application of competition laws and it is indicated that this seeks to achieve more effective attention to the respective concerns of the parties.
As they explain, the agreement has the following objectives:
- promote the cooperation and coordination between States Parties in the ‘enforcement activities of national competition laws within MERCOSUR;
- provide mutual assistance in any matter relating to competition policy that is considered necessary;
- ensure careful consideration by States Parties of their relevant reciprocal interestsin the application of its competition laws and
- eliminate anti-competitive practices through the application of their respective competition laws.
However, it is clarified that it is the exclusive responsibility of each State to control of the acts committedtotally or partially in its territory or those that originate in other Mercosur countries and that produce or may produce effects on competition.
Source: Ambito
