European Commission (EC) President Ursula von der Leyen (R) and British Prime Minister Keir Starmer (L). (Photo: AA/VNA)

Following the UK’s 2016 vote to leave the EU, the two parties established a major trade agreement that came into effect in 2021.

Since taking office in July, Prime Minister Keir Starmer’s government has aimed to reset relations with the EU after a challenging “breakup.” This new agreement allows the UK competition authority, the European Commission (EC), and antitrust bodies in EU member states to cooperate on competition investigations.

The EC noted that this cooperation will include mutual notification of significant antitrust and merger investigations, as well as coordination where necessary. The agreement will take effect upon ratification by the UK, EU member states, and the European Parliament.