OREANDA-NEWS. May 26, 2011. The heads of competition authorities of Brazil, Russia, India and South Africa held a meeting at the 10th Annual Conference of the International Competition Network (ICN), which took place in Hague (the Netherlands). The initiative was put forward by South African Competition Authority that has recently joined BRIC, transforming it into BRICS, reported the press-centre of FAS Russia.

At the meeting the leadership of BRICS competition authorities discussed preparation to the forthcoming 2nd BRICS International Competition Conference, which will take place on 21-22 September 2011 in Beijing (China) as well as the Conference programme and agenda to ensure the most complete reflection of the pressing aspects of completion policy and enforcement in the BRICS countries.

The parties also discussed efforts to implement the Action Plan signed by the BRICS Presidents at the latest BRICS summit on 14th April 2011 in China, regarding possibility to conclude an Agreement on Cooperation between the antimonopoly authorities of the BRICS countries. More detailed discussion of the issue is planned within the framework of BRICS Conference with involvement of China.

Reference:
BRICS is a group of five countries: Brazil, Russia, India, China and South Africa. Members of the group are characterized as the most rapidly developing large countries. An advantageous position of these countries is due to their vast resources - natural (agricultural, mineral), labour, intellectual – important to the global economy.