General Conclusion: Summary and Prospect

Abstract

While the international community has struggled to operate a binding multilateral international agreement on cartels, its efforts to understand differences of political, economic, and social foundations of law and economy between the North and the South have been made insufficiently from competition law and policy perspective. The academic investigation on the history of international law regarding competition and commodity indicates that there are distinctive characteristics of both areas for regulation although such distinction has lessened. Realistic strategies-short-term and long-term- are suggested for solving the current standstill of multilateral negotiation on international trade issues, particularly competition law including cartel regulation. International agreement on cartels needs to be initiated centering on bid-rigging while international commodity agreement needs to be dealt in the separate area.