WASHINGTON. May 4: The United States and Japan on Monday announced an agreement on anti-trust cooperation they said would help them stamp out anti-competitive behaviour. says AFP.

The announcement came during a summit here of President Bill Clinton and visiting Japanese Prime Minister Keizo Obuchi.

A statement from the US Justice Department said the accord, to be signed in the near future. would substantially improve the ability of authorities to coordinate decisions, on proposed mergers and to prosecute international cartels operating in both countries.

It will also help US agencies confront anti-competitive practices in Japan that restrict access to the Japanese market, according to the communique.

"The substantive elements of this agreement represent a modern, bilateral anti-trust cooperation agreement and are similar to those in our agreements with Canada and the European Union," said Joel Klein, head of the Justice Department's anti-trust divi-