By TIOL News Service

NEW DELHI, NOV 23, 2013: THE Heads of the Competition Authorities of the Federative Republic of Brazil, the Russian Federation, the Republic of India, the People’s Republic of China and the Republic of South Africa signed a Joint Accord namely ‘DELHI ACCORD’ on November 22, 2013 during the ongoing 3rd BRICS International Competition Conference (ICC) at New Delhi.

BRICS Competition Authorities, reflecting the principle of mutual trust and respect, considered the need of establishing good communication between the BRICS Competition Authorities on competition law and policy to further improving and strengthening the relationship between the BRICS Competition Authorities.

BRICS Competition Authorities, while recognising the benefits of technical cooperation among the competition agencies, in sound and effective enforcement of competition laws expressed their resolve and commitment to exchange views on different aspects of competition policy.

The heads of the Competition Authorities of BRICS recommended the publication of the material of the 3rd BRICS ICC on their respective websites for the purpose of competition advocacy.

The Competition Authorities of BRICS support the hosting of the Fourth BRICS ICC during 2015.

The Delhi Accord was signed by Alessandro Serafin Octaviani Luis, Commissioner, CADE for the Brazilian Competition Policy System, by Andrey Tsarikovsky, Stats Secretary-Deputy Head of the FAS, Russia for the Federal Antimonopoly Service of the Russian Federation, by Ashok Chawla, Chairman, for the Competition Commission of India, by Sun Hongzhi, Vice Minister, for the State Administration for Industry and Commerce of the People’s Republic of China and by Tembinkos Bonakele, Acting Commissioner for the Competition Commission of South Africa.