Analyzing The Role Of Global Competition Authorities Like The International Competition Network In Harmonizing Antitrust Policies

Pranjali Mishra, Amity Law School, Amity University, Lucknow

ABSTRACT

With the rise of cross-border business conduct and multinational firms, coordinating antitrust enforcement across jurisdictions has become imperative. The International Competition Network (ICN) was established in 2001 as an informal forum for cooperation between national competition agencies to promote greater convergence and consistency. This paper analyzes the structure and functioning of the ICN including its membership, working groups and initiatives. It evaluates the ICN's role and efficacy in bridging differences to progressively harmonize global competition policies through voluntary adherence to non-binding best practices.

The analysis finds that while the ICN's soft law approach has limitations in ensuring compliance, it has facilitated useful convergence in investigative procedures and analysis. However, significant discrepancies remain across jurisdictions. While proposals for formal multilateral frameworks raise complex legal and political barriers, the ICN serves an incremental but important function in enabling cooperation between antitrust authorities. The paper provides a comprehensive assessment of the ICN's mechanisms, benefits and critiques in coordinating international competition law.

Keywords: International Competition Network (ICN), competition policy, antitrust law, extraterritoriality, harmonization, voluntary convergence.