International Competition Law

Julie Clarke discusses International Competition Law and explains at the moment there remains no international competitive law. However, a few things are being done in order to continue to: 1. Harmonising competition laws. 2. Increasing the enforcement of Competition laws will go around the formal/territorial boundaries of just one state. The international competitive law will help to enhance the potential for global wealth instead of possessing a goal of protecting their national interests. It is easier to share information and to coordinate activities when there are similar policies and procedures put in place, there is also a board desire for an increase in convergence. There are three main international agreements including: 1. Bilateral agreements: do not solve problems with conflicting interests. 2. Regional agreements: Australia and New Zealand. 3. International agreements: Established in 2001, the government of competition regulators have no power to take treaties.