BRICS Competition meet opens this week
November 19, 2013, 9:26 am

Total trade within the BRICS bloc amounted to $6.1 billion last year, representing 16.8 per cent of global trade [BRICS5]

Discussions will focus on issues and challenges in setting up an affective agency, enforcement in relation to state owned enterprises, public procurement and creation of competition culture.

The conference is a key biennial event of competition law and policy that acts as major knowledge sharing platform.

Asok Chawla, Chairperson of India’s Competition Commission said the “BRICS family” would be re-energised by cooperation between these national agencies.

“The need for harnessing synergies between the BRICS economies and their role as growth drivers of the world economy has been highlighted by BRICS Leaders.  This need comes with challenges in enforcement of competition law and policy, globally.

“Thus, more coherence and cooperation in the field of competition law and policy can be expected amongst the BRICS Competition Authorities,” Chawla said.

Total trade within the BRICS bloc amounted to $6.1 billion last year, representing 16.8 per cent of global trade.

Observers from the United States and the European Union as well as heads of the Competition Commission of Italy, Canada, Sweden, France and Singapore are also expected to attend the BRICS meet.

Joaquín Almunia, Vice-President of the European Commission and Competition Commissioner, Edith Ramirez, Commissioner of the US Federal Trade Commission, Frederic Jenny, Chairman of the OECD Competition Law and Policy Committee are key speakers at the meet.

Tembinkosi Bonakele, Commissioner of the South African Competition Commission said the meet would look at “creating a level playing field with state-owned enterprises, innovation and economic development, and the building of effective competition institutions”.

The Indian Prime Minister Manmohan Singh and the Minister for Corporate Affairs Sachin Pilot will also attend the BRICS conference.

The BRICS Post