MEMORANDUM OF THE BRICS COMPETITION AUTHORITIES IS EXTENDED FOR AN OPEN-END PERIOD
Type: Agreements on cooperation
On July 23, 2020, within the meeting of the Heads of the BRICS Competition Authorities Igor Artemiev, Head of the FAS Russia, announced the extension for an open-end period of the Memorandum of Understanding between BRICS Competition Authorities on Cooperation in the field of Competition Law and Policy, signed in 2016 in Saint Petersburg.
"The Memorandum laid the foundation for our five-party cooperation and defined the main areas of interaction. Since signing the document, we have achieved great practical results: the BRICS Coordinating Committee on Antimonopoly Policy and BRICS Working Groups were established; close contacts between representatives of our authorities not only at the leadership level, but also at the working level are held regularly", said Igor Artemiev.
In order to extend the validity of the Memorandum for an indefinite period, the FAS Russia has elaborated a corresponding Declaration of the Heads of the BRICS Competition Authorities, which despite the restrictive measures imposed around the world to prevent the spread of COVID-19, with the support of the Ministry of Foreign Affairs of the Russian Federation and the Russian Embassies in Brazil, India, China and South Africa, was promptly agreed and signed by the Heads of BRICS Competition Authorities.