The UK and EU have concluded technical negotiations on the UK-EU Competition Cooperation Agreement, aiming to improve cooperation between their competition authorities. This agreement will facilitate closer dialogue between the UK's Competition and Markets Authority, the European Commission, and the National Competition Authorities of EU Member States.

The agreement is expected to enhance the enforcement of global competition laws, benefiting businesses in both the UK and EU while safeguarding consumers. It will enable more effective handling of cross-border cases involving unfair competition practices.

The announcement aligns with the UK Prime Minister's call for regulators to support the government's growth mission. The agreement is set to be signed in the near future, with parliamentary scrutiny to follow once the text is made public.

Business Secretary Jonathan Reynolds emphasized the significance of continued cooperation between UK and EU competition authorities, highlighting the importance of international collaboration in a globalized economy. Effective enforcement of competition law is crucial for protecting businesses and consumers and fostering economic growth.

CEO of the Competition and Markets Authority, Sarah Cardell, welcomed the agreement, noting that it will enable closer collaboration with EU competition authorities on shared cases and common competition issues. Enhanced cooperation among competition authorities is vital for promoting fair competition and driving economic growth.

The UK Government's commitment to promoting open and fair competition globally underscores the importance of the agreement in supporting UK businesses and consumers. Such agreements establish frameworks for cooperation between competition authorities, ensuring effective collaboration with overseas counterparts.