According to diplomatic sources, Japan and the European Union have...

According to diplomatic sources, Japan and the European Union have reached a broad agreement to collaborate on investigating and controlling unfair business practices, such as the formation of cartels. The joint initiative was outlined during a meeting between Japanese Prime Minister Yoshiro Mori and French President Jacques Chirac on Wednesday morning, with France currently holding the EU presidency. The Fair Trade Commission of Japan and the European Commission aim to finalize an agreement later this year, with implementation expected to commence next year.As cross-border business activities continue to increase due to the rise of international alliances among companies, such as the global tie-up between Nissan Motor Co. and Renault SA, the authorities hope to cooperate in investigating planned mergers and acquisitions.

Tuesday, 18 July, 2000