MEMORANDUM OF BRICS COMPETITION AUTHORITIES WAS PERMANENTLY EXTENDED

On July 23, 2020, during a meeting of Heads of BRICS competition agencies, the Head of the FAS Russia, Igor Artemiev announced the extension for an indefinite 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 on Competition Research in Socially Important Markets were established, the number of which activities is growing every year, taking into account the interests and needs of our agencies, and close contacts have been established between representatives of our authorities not only at the leadership level, but also at the working level, " 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 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.