Japan and Canada signed an agreement Tuesday to cooperate on preventing anticompetitive business practices between the two countries, the Fair Trade Commission said Wednesday.

The agreement was signed in Ottawa by Ambassador to Canada Sadaaki Numata and Sheridan Scott, Canada’s commissioner of competition. FTC Chairman Kazuhiko Takeshima attended the ceremony.

The accord calls for the competition authorities of the two countries to notify each other of anticompetitive activity, such as the formation of price cartels.

Japan concluded similar agreements with the U.S. in 1999 and with the EU in 2003. Japan is considering sealing such a pact with Australia.

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