BRICS watchdogs ready to strengthen antitrust response in light of eased Covid-19 restrictions
( August 18, 2020, 08:32 GMT | Official Statement) -- MLex Summary: The competition authorities of the five BRICS countries — Brazil, Russia, India, China and South Africa — have committed to strengthen their antitrust response to overcome the economic and social consequences of the pandemic amid the gradual lifting of Covid-19-related restrictions. The Russian authority today published a statement for all five BRICS watchdogs, which have reiterated their readiness to cooperate with each other to safeguard competition.Abstract follows. The full joint statement is attached. BRICS Competition Authorities Joint Statement on COVID-19 Type: Agreements on cooperation On July 23, 2020, within the framework of the Russian Federation's chairmanship in BRICS in 2020, a meeting of the Heads of the BRICS Competition Authorities was held, following which a Joint Statement on consolidating efforts to combat the negative economic consequences of COVID-19 was adopted. Within the meeting, the Heads of the BRICS Competition Authorities discussed the changes that have taken place in the world in connection with the spread of the new coronavirus infection CОVID-19, which significantly affected the economic life of the BRICS countries and introduced new changes to the daily work of antimonopoly regulators. The purpose of the Joint Statement is to confirm the readiness and commitment of the BRICS Competition Authorities to cooperate with each other in crisis circumstances to protect competition in the socially significant BRICS markets. In addition, this document expresses the intention of the five antimonopoly regulators to strengthen the antitrust response to overcome the economic and social consequences of the pandemic amid the gradual lifting of restrictions in connection with COVID-19 and the resumption of economic activity in the BRICS countries....
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