South Africa’s Competition Commission on Thursday signed a memorandum of understanding (MoU) with Brazil’s Administrative Council for Economic Defense (CADE) to strengthen competition law enforcement between the two countries.
The signing ceremony took place on the sidelines of the fifteenth Organisation for Economic Cooperation and Development (OECD) Global Forum on Competition in Paris where more than 100 competition agencies from across the world are gathering to discuss competition law, enforcement and policy related issues.
The MoU will boost bilateral relations on competition law and policy matters between the commission and CADE, formalising an existing relationship of mutual cooperation and support.
According to the MoU, which will remain in force for four years, cooperation may include coordinating enforcement activities concerning the same or related cases, where possible.
It will also assist in exchanging nonconfidential information relating to competition policy, investigations, multilateral competition initiatives and competition advocacy and provide assistance where anticompetitive actions carried out in one country may affect the other.
South Africa and Brazil believe competition law is vital for promoting economic growth and consumer welfare.