US, Israel Sign Anti-Trust Agreement

Industry and Trade Minister Natan Sharansky signed in Washington a competitive policy cooperation agreement (anti-trust) with US Attorney General Janet Reno and Federal Trade Commission Chairman Robert Pitofsky on March 15, 1999. The agreement will come into effect when it is ratified by the Knesset. This is the first agreement of this type signed by Israel and is part of the framework to stabilize cooperation between the Untied States and Israel.

The mutual agreement requires the parties to cooperate in locating anti-trust activities and enforcing anti-trust legislation, as well as cooperating in the sharing of intelligence, avoid conflict and to coordinate relevant activities. Sharansky said, "I consider the agreement to be of the highest importance. The international character of business requires cooperation between authorities to enforce competition. We have special relations with the United States and signing this agreement will promote competition and has a special status for me. I thank the American attorney general and FTC chairman for their willingness to cooperation with the anti-trust establishment in Israel and to sign this agreement."

Source: Israeli Government Press Office