To enhance cooperation and strengthen the effective enforcement of competition law across the South African Development Community (SADC) States, the relevant competition authorities have inked a “landmark” memorandum of understanding (MoU).
With a focus on cooperation in competition policy, law and enforcement, the MoU built on the 2009 SADC Declaration on Regional Cooperation in Competition and Consumer Policies.
“The MoU provides a framework for cooperation in competition enforcement within the SADC region and we are delighted to be part of this historic initiative,” said South Africa’s Competition Commission Commissioner Tembinkosi Bonakele.
According to the document, signed on May 26, the signatories would pursue the effective functioning of markets for good and services, while recognising the role of competition law and policy and its enforcement in the development of the economy.
The agreement allowed for the exchange of information and views on significant developments in the field, participation in joint studies and research, capacity building, the coordination of investigations and the harmonising of rules and procedures where possible.
A joint working committee, comprising one representative from each competition authority across the SADC countries, would be established to manage and facilitate cooperation and consultation and develop a yearly work plan, besides others.
The competition authorities of Botswana, Malawi, Mauritius, Mozambique, Namibia, Seychelles, South Africa, Swaziland, Tanzania, and Zambia were signatories to the MoU.