Competition authorities from BRICS nations pledged closer cooperation on merger control, digital markets, and cartel enforcement as the bloc seeks to reshape global economic governance, following the conclusion of a two-day summit in South Africa.
The BRICS is a group formed by eleven countries: Brazil, Russia, India, China, South Africa, Saudi Arabia, Egypt, the United Arab Emirates, Ethiopia, Indonesia, and Iran.
More than 300 delegates, including heads of BRICS competition regulators, international experts, and practitioners, attended the 9th BRICS International Competition Conference in Cape Town last week. The gathering focused on how emerging economies can influence global competition policy and push for a more inclusive multilateral order.
South Africa’s Competition Commissioner Doris Tshepe said the event marked “a new chapter in the journey of BRICS” to strengthen fairness and inclusivity in international markets. Officials highlighted concerns over fractured multilateralism, digital dominance, and food security, and called for reforms to multilateral development banks to reflect developing-world priorities.
A joint statement signed by BRICS competition heads committed to condemning cartels, intensifying cooperation on cross-border mergers, and embedding development perspectives in enforcement. The regulators also outlined a five-year vision that emphasizes supporting small businesses, regulating AI and digital platforms, and scrutinising pharmaceutical markets.
In his keynote, South Africa’s BRICS Sous-Sherpa Ben Joubert urged the bloc to counter “geo-economic fragmentation” and to anchor cooperation in equity and sustainability rather than create an alternative system.
Hosting rights for the next BRICS International Competition Conference in 2027 were formally handed to Brazil’s competition authority, CADE.
