The third edition of the BRICS International Competition Conference saw the participation of officials from various fair trade authorities including those from Europe, Australia, Canada, the US and France.

The participants shared their experiences relating to competition law, innovation and economic development with their counterpart competition authorities of BRICS. Besides, the authorities considered the need of establishing good communication among them on competition law and policy to bolster their relationship.

Concluding their deliberations, the BRICS Brazil, Russia, India, China and South Africa nations also inked the 'Delhi Accord' that broad outlines the contours of strengthening co-operation by exchanging views and boosting communication.

Participating in the conference, US Federal Trade Commission's Chairwoman Edith Ramirez underlined the importance of advocacy, especially with government departments and agencies to ensure pro-competitive government policies. On the sidelines of the summit, India and European Union entered into an agreement that would facilitate exchange of information related to competition issues and ensure non-discriminatory enforcement of such laws.

In his keynote address at the closing ceremony, Competition Appellate Tribunal chairperson VS Sirpurkar stressed on the importance of having a competition culture. Inaugurating the summit, organized by the Competition Commission of India (CCI), on Thursday, Prime Minister Manmohan Singh had called for greater cooperation among competition authorities in the wake of growing number of cross-border M&A deals and possible anti-competitive practices across boundaries.

Singh had said that co-operation in competition policy and enforcement is of vital importance and hoped that the Summit would provide an opportunity to the authorities to share their experiences regarding common challenges and articulate a new consensus on key issues. The next edition of the biennial conference would be held in South Africa.

(Agencies)

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