Cabinet clears memorandum on cooperation between Competition Comm, JFTC

The Union Cabinet on Thursday approved a Memorandum on Cooperation (MoC) between the Competition Commission of India (CCI) and Japan Fair Trade Commission (JFTC).

The MoC is aimed at promoting as well as strengthening cooperation in the matter of competition law and policy.

An official release said the MoC, through exchange of information, will enable CCI to emulate and learn from the experiences and lessons of its counterpart competition agency in Japan, which would enhance efficiency.

''The same will help improve enforcement of the Competition Act, 2002 by CCI. The resultant outcomes will benefit consumers at large and will promote equity and inclusiveness,'' it added.

The MoC envisages promoting and strengthening cooperation in the matter of competition law and policy through exchange of information as well as through various capacity building initiatives in the areas of technical cooperation, experience sharing and enforcement cooperation.