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US Agencies Ink Deal with Colombian Cartel
Assistant Attorney General Bill Baer of the Antitrust Division has signed an antitrust cooperation agreement with the Colombian antitrust agency on behalf of the US government, along with Federal Trade Commission Chairwoman Edith Ramirez. The agreement went into effect today with the signature of Pablo Felipe Robledo, Colombia’s Superintendent of Industry and Commerce.
The new agreement contains provisions for antitrust enforcement cooperation and coordination, conflict avoidance and consultations with respect to enforcement actions, and technical cooperation. The agreement also contains confidentiality protections.
The US antitrust agencies and Colombia’s Superintendence of Industry and Commerce have built a strong enforcement relationship over the years, both bilaterally and under the terms of the U.S.-Colombia Trade Promotion Agreement.
“The Colombians have a proven antitrust system, and this agreement will allow us to work more closely with our colleagues in Bogotá,” said Assistant Attorney General Baer.
“Colombia has a well-developed competition regime, and we have a strong working relationship with its competition agency,” said Chairwoman 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 agreement entering into force today does not change existing law in either country. Colombia has had a law dedicated to the preservation of competition since 1959.
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.
RELATED: FTC, DOJ Ink Deal with Indian Cartel Busters
Key Facts
- State: Federal
- Category: White Collar Crime|Organized Crime
- Source: DOJ Press Release ↗
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