Promoting Competition in Global Markets

Promoting Competition in Global Markets

A Multi-National Approach

P. J. Lloyd and Kerrin M. Vautier

This book sheds new light on a major issue on the international trade policy agenda – the promotion and defence of competition in globalizing markets. The authors discuss multi-national approaches to competition policy in the WTO, European Union, the Americas, OECD, UNCTAD and CER. They investigate the policy responses to anti-competitive, cross-border business transactions and argue that a growing reliance on competition law is not in itself sufficient to promote competition in globalizing markets.

Chapter 4: The European Union

P. J. Lloyd and Kerrin M. Vautier

Subjects: economics and finance, international economics


Page 59 4—  The European Union The European Union (EU) was the first regional trade agreement to adopt region­wide 'competition policy'. The EU is also the most important case among the regional  trading agreements of policies to promote competition because of the deep integration in the area, which includes competition law and other policies which impact  upon competition, and because of the large number of countries now involved in these policies. The 1957 Treaty of Rome contains several chapters relating to  competition law. This gives competition law in the EU a constitutional basis which is unique among the regional trading agreements with elements of regional  competition law. This chapter provides a broad review of the policies of the EU which impact on competition, focusing on the international dimensions of competition law at the EU  level. Policies to Promote Competition at the EU­Level The EU has developed a broad set of policies which promote competition in EU markets for all goods and services and factors. They encompass both public and  private actions. The foundation of these policies is the Common Market. Along with common policies in designated areas, the Common Market was the vehicle for the economic  integration planned in the Treaty of Rome. The Treaty guaranteed freedom of movement within the area of goods, services, persons and capital, that is, the  establishment of a Common Market. Border barriers to the movement of produced commodities and non­produced factors were removed by the end of the initial ten­ year...

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