Brussels, 11/07/2003 (Agence Europe) - The European Union and Japan have signed an agreement that will strengthen co-operation between their competition authorities to the benefit of companies and consumers in both jurisdictions. This is the third such agreement signed by the EU after agreements concluded with the United States and with Canada. The agreement provides a concrete framework for co-operation between the European Commission and the Japan Fair Trade Commission. The agreement provides for reciprocal information on the enforcement activities of each authority that might affect the interests of the other party. Typically, the Commission will routinely notify its Japanese counterpart of any merger proceedings or other proceedings against Japanese companies as well as cases where anti-competitive activities are carried out in Japan. This also applies to the other party. Under the agreement the EU and Japan may request the other party to start enforcement actions against anti-competitive behaviour carried out in the territory of the other party. It enhances international co-operation in the fight against cartels and provides for regular contacts in order to discuss policy issues and enforcement efforts and priorities. The Commission comments that, as with the agreements with the US and Canada, he agreement does not allow for the exchange of confidential information unless specifically authorised by the companies involved. Commissioner Monti commented: “We look forward with enthusiasm to a new era of enhanced co-operation with the Japan Fair Trade Commission as this will be beneficial for companies doing business in both markets and for consumers.” Commissioner Monti first discussed the idea of the agreement during a visit to Japan in October 1999.