BRICS Competition Law and Policy Centre: joint efforts towards antitrust regulations
BRICS Competition Law and Policy Centre: joint efforts towards antitrust regulations could help solving the food security issues in Africa
The Second Summit Russia–Africa Economic and Humanitarian Forum will be held in St. Petersburg on 27–28 July. The forum will welcome leaders of African nations and offer a platform for promoting peace, security, and development in Africa.
One of the key forum sessions is called the “Combating Anticompetitive Practices of Large Transnational Corporations, Suppressing Cross-border Cartels and International Cooperation”. It is organized together with the International BRICS Competition Law and Policy Centre, and will focus on antitrust regulation policies, with a particular emphasis on food security. The High-level representatives of antitrust official institutions from African countries and international organizations will participate in the session, including Bouranga Vissia — President, National Competition Council of the Ministry of Trade of the Republic of Chad, Mohamed Mnasser — Vice President of the Competition Council of Tunisia, Mahmoud Momtaz — Chairman, Egyptian Competition Authority (ECA), Teresa Moreira — Head of the Competition and Consumer Policies Branch, United Nations Conference on Trade and Development (UNCTAD), Hardin Ratshisusu — Deputy Commissioner, Competition Commission of the South African Republic, Amadou Ceesay — Executive Secretary, Gambia Competition and Consumer Protection Commission (GCCPC) and others. They will gather to discuss the impact of these policies on the global food market and the food security of developing countries.
“This meeting has the potential to make a significant impact on the well-being of populations in developing countries", - said Alexey Ivanov the head of the BRICS Competition Law and Policy Centre.
Experts emphasize that antitrust regulation policies must strike a delicate balance between promoting competition and protecting the interests of vulnerable populations. Policymakers must ensure that small farmers and consumers in developing countries are not disadvantaged by the increased competition from global monopolies.
“The reformatting of global markets and trade channels in all sectors of the world economy, from food to the turnover of data from digital platforms and financial services, acutely raises the issue of protecting competition and preventing monopolization, various forms of abuse, cartelization, etc., i.e. everything that blocks the normal processes of economic development and healthy social relations. The tools of antitrust law have been undeservedly forgotten and marginalized. Cooperation with Africa plays a key role in this issue, because it is the largest growing economy, probably one of the few regions of the world where everything is still ahead of us. It is precisely at this stage that we need to lay the foundations of a fair, just, competitive economic order and put the brakes on it”, - Ivanov added.
BRICS Competition Law and Policy Centre
