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U.S. and Chile Ink Antitrust Pact
WASHINGTON – In a move to strengthen law enforcement and protect consumers, the U.S. and Chile have signed an antitrust cooperation agreement. The agreement was signed by Christine Varney, Assistant Attorney General in charge of the Antitrust Division, along with Federal Trade Commission Chairman Jon Leibowitz and Felipe Irarrázabal, Chile’s National Economic Prosecutor.
The new agreement contains provisions for antitrust enforcement cooperation and coordination, conflict avoidance and consultations with respect to enforcement actions, and technical cooperation. It also includes confidentiality protections to ensure sensitive information is kept private.
Assistant Attorney General Varney said, “This new agreement is a significant step in developing a close relationship between the antitrust agencies of the United States and Chile. It is an important tool that will be used to protect consumers in both countries.”
FTC Chairman Jon Leibowitz added, “Chile has one of the most advanced antitrust systems in Latin America. They are natural partners for us, and I’m pleased that we can formalize and strengthen the great relationship we have with them.”
The agreement highlights the importance of antitrust cooperation, including information sharing and possible coordination of enforcement actions when pursuing related matters. It also emphasizes the need to minimize conflicts arising from enforcement actions.
The U.S. antitrust agencies and Chile’s Office of the National Economic Prosecutor have been working together for years, and this agreement marks a significant step forward in their relationship. The agreement does not change existing law in either country and is similar in substance to those previously signed with other countries.
As the two countries continue to work together, consumers in both the U.S. and Chile can expect better protection and stronger competition law enforcement.
Key Facts
- State: Federal
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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