Multilateralism, bilateralism and unilateralism: a critical commentary on the EU’s triple‐track approach to the international dimension of competition policy

Demonstrates that the European Union (EU) has moved from a twin‐track to a triple‐track approach to the vetting of cross‐border competition concerns. The twin‐track approach is based on co‐operation at the multilateral and bilateral levels. The new third track, not based on co‐operation, is the legal right to unilaterally apply competition instruments extraterritorially. The EU has pushed to establish a multilateral approach through the auspices of the World Trade Organisation. Although there has been some support for this, the reservations from the USA and others make this track unfeasible for the foreseeable future. In the absence of any significant multilateral progress, the EU has concluded bilateral agreements with major partners, but the approach has its limitations – the EU can only deal with the countries with which it has such an agreement. The Commission’s third track unilaterally applies EU competition instruments extraterritorially using the effects doctrine.