Brief Appraisal of the Contribution of the UN Set of Multinational Agreed Principles and Rules for the Control of Restrictive Business Practices 1980

Abstract

Competition Law has adopted an international/global dimension overtime. One of the first notable attempts to globalize competition law among nations was the 1980 UN Set of Multinational Agreed Principles and Rules for the Control of Restrictive Business Practices. Although a promise this international instrument was not adopted by states due to varied reasons ranging from: political, social and economic differences among states.

This paper critically analyzes the rules by offering its advantages and disadvantages and whilst doing so the paper argues that for there to be complete harmonization of competition law there is need to have binding rules as non - binding rules tend to make numerous states reluctant in ratifying and committing themselves to international treaties.

Will international harmonization of competition law remain a global dream?