Published On: Tue, May 24th, 2016

SA welcomes BRICS MoU

South African Competition Commissioner, Tembinkosi BonakeleJOHANNESBURG, (CAJ News) – THE Heads of the BRICS (Brazil, Russia, India, China and South Africa) competition authorities have signed a historic Memorandum of Understanding to formalise relations among the member countries.

The MoU, which was signed during the International Legal Forum held in Saint Petersburg, Russia, establishes a framework for cooperation between the BRICS Competition authorities.

“The MoU consolidates the already closed cooperation between BRICS competition authorities,” said South African Competition Commissioner, Tembinkosi Bonakele.

“The Competition Commission of South Africa is committed to deepen these relations in the interest of all BRICS economies and people,” added Bonakele.

BRICS is an association of five major emerging national economies.

The BRICS members are all developing or newly industrialized country countries, but they are distinguished by their large, sometimes
fast-growing economies and significant influence on regional affairs.

CAJ News

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