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Abstract
The globalization of the world economy has increased attention on domestic policy instruments that have an impact on the conditions of competition between domestic and foreign sources of supply (imports and foreign direct investment). Competition policy is one such domestic policy—its formulation and enforcement has led in some cases to trade frictions between countries. The Uruguay Round agreement has widened the scope of domestic policies (subsidies, standards, government procurement, services, intellectual property, and so on.) addressed internationally. At the April 1994 Marrakesh meeting concluding the Uruguay Round, a number of countries expressed the view that competition policies should be included in the World Trade Organization’s (WTO) future work agenda.
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