Documents

MEMORANDUM of Understanding on cooperation in the field of competition law and policy of the BRICS countries

On May 19, 2016, within the framework of the St. Petersburg International Legal Forum, the Memorandum of Understanding on cooperation in the field of competition law and policy of the BRICS countries (hereinafter - Memorandum) was signed.

The signing of the Memorandum has become one of the important stages in the development of cooperation between the BRICS competition authorities aimed at enhancing coordination and interaction. Memorandum, developed on the initiative of FAS Russia in close cooperation with the BRICS competition authorities, identified institutional partnership between competition authorities and specific mechanisms for cooperation between the authorities. 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 is socially significant markets to develop joint approaches to solving tasks in this area (hereinafter - Working Groups).

As an effective governing body in accordance with paragraph 3 of the Memorandum, the BRICS Coordination Committee on Antimonopoly Policy has been established. Main objectives if this Committee are to identify areas of joint activity with the designation of specific topics of mutual interest, to promote joint initiatives, to identify similar urgent problems of competition development in socially significant markets, to form agendas and sum up the work of the BRICS Working Groups for research on competition issues in socially important markets, identify plans for joint activities of the BRICS competition authorities.

In order to extend the validity of the Memorandum for an indefinite period, 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.

Thus, in 2020 the Memorandum was extended for an open-end period.