In late 2020, the European Union and the United Kingdom reached a landmark agreement, setting out the terms of their future relationship. One crucial element of the agreement was the stipulation for cooperation on competition policy.

The EU-UK Competition Cooperation Agreement establishes a framework for the two parties to cooperate on a range of issues related to competition, including the investigation of antitrust cases, the exchange of information, and the coordination of enforcement actions.

The agreement is particularly significant given the potential impact of Brexit on competition policy. Prior to the UK`s departure from the EU, the European Commission had been the primary body responsible for enforcing competition law in the UK. With the UK`s exit from the bloc, the responsibility for enforcing competition policy falls squarely on the shoulders of the UK`s Competition and Markets Authority (CMA).

The EU-UK Competition Cooperation Agreement helps to ensure that the necessary cooperation and information sharing takes place between the CMA and the European Commission, which will continue to play a role in enforcing competition policy in the EU.

The agreement also highlights the importance of maintaining fair competition and level playing fields between the EU and the UK. By working together to investigate potential antitrust violations and coordinate enforcement actions, the two parties can better protect consumers and businesses from unfair practices.

The EU-UK Competition Cooperation Agreement is just one aspect of the broader agreement on the future relationship between the EU and the UK. However, it is a crucial component, ensuring that competition policy remains a priority for both parties and that the necessary cooperation takes place to enforce it effectively.

In conclusion, the EU-UK Competition Cooperation Agreement cements the commitment of both parties to maintaining fair competition and level playing fields. The agreement establishes a framework for cooperation and information sharing between the CMA and the European Commission, ensuring that competition policy continues to be enforced effectively in both the EU and the UK.