Cooperation within the BRICS is an example of effective interaction of competition authorities, which is built on the principles of mutual trust, respect and interest in achieving results for the benefit of developing economies and improving the lives of citizens of our countries.

Cooperation of the BRICS countries in the field of competition policy is recognized as one of the most important areas of joint work within the framework of the association. This is confirmed by the inclusion in the Ufa Declaration, adopted at the end of the BRICS Summit in July 2015, of provisions defining the intention to continue joint work aimed at improving competition policy and antimonopoly law enforcement.

In the context of the globalization of the world economy, accompanied by the growth of unfair practices conducted by large transnational companies, only close and well-coordinated work of the BRICS Competition Authorities can create effective mechanisms to suppress and prevent them.

The signing of the Memorandum of Understanding between the BRICS Competition Authorities on cooperation in the field of competition law and policy in May 2016 (prolonged in 2020 for an open-end period) was one of the important stages in the development of cooperation between the BRICS Competition Authorities in order to enhance coordination and interaction. Memorandum, developed on the initiative of FAS Russia in close cooperation with the competition authorities of the BRICS countries, defined specific mechanisms for cooperation.

In addition to the already traditional forms of interaction, such as consultations and the exchange of non-confidential information, the Memorandum provides for the possibility of organizing work in the format of joint Working Groups for the research of competition issues in different markets, primarily socially significant ones, development of joint approaches to solving problems in these markets.

Thus, the Memorandum does not only consolidate the institutional partnership between the BRICS Competition Authorities, but also contributes to the expansion of practical cooperation in law enforcement. Authorities are actively cooperating while investigating cases of violation of antimonopoly legislation that have a cross-border effect, and while considering global transactions of economic concentration. Successful experience of cooperation is confirmed by such examples as Monsanto/Bayer, Siemens/Alstom, Alstom/Bombardier transactions, Google, Apple cases.