FOR IMMEDIATE RELEASE

AT

MONDAY, NOVEMBER 2, 1998 (202) 616-2771

WWW.USDOJ.GOV

TDD (202) 514-1888

INTERNATIONAL COMPETITION POLICY ADVISORY COMMITTEE KICKS OFF

THREE DAYS OF HEARINGS AND ROUNDTABLE DISCUSSIONS

WASHINGTON, D.C. -- The Department of Justice's International Competition Policy Advisory Committee opened three days of public hearings and roundtable discussions today with senior officials from 10 foreign competition authorities, and representatives from the legal, investment banking, economic and academic communities. The three day session will include panel discussions and presentations on issues of enforcement cooperation, multi-jurisdictional merger review and the interface of trade and competition policy.

"The Advisory Committee, whose members possess an extraordinary degree of relevant experience and knowledge, has an important role to play in the formation of U.S. international competition policy," said Joel I. Klein, Assistant Attorney General in charge of the Antitrust Division. "These hearings, with an outstanding roster of senior foreign competition officials and other experts in law, finance and economics, promise to be a fruitful source of information for consideration by the Advisory Committee."

The International Competition Policy Advisory Committee was created in November 1997 by Attorney General Janet Reno and Klein to provide a medium term policy vision on international competition issues in the years ahead. Specifically, the Advisory Committee has been asked to provide advice on three issues:

(1) Enforcement Cooperation - How do we build a consensus among governments for cooperation and effective enforcement efforts aimed at eliminating international cartels;

(2) Multi-jurisdictional Merger Review Issues - How can the various antitrust agencies best coordinate their merger review efforts to achieve sound results for both merging firms and consumers.

(3) The Interface of Trade and Competition Policy - How should the U.S. address anticompetitive schemes on the part of private firms that impede access to markets.

Klein will kick off the hearings with a welcome to the foreign competition officials. The Advisory Committee will hear opening remarks from representatives of 10 competition authorities including: Australia, Brazil, Canada, the European Union, France, Germany, Japan, Mexico, Spain and Venezuela. A roundtable discussion with members of the Advisory Committee will follow.

On Tuesday, there will be a panel discussion devoted to multi-jurisdictional merger review issues. The Advisory Committee will hear from members of the legal, investment banking, and economic communities.

On Wednesday, the hearings will open with a panel discussion concerning challenges stemming from cartels in a global economy, followed by panels discussing the interface of trade and competition policy.

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