BRICS: Adopted BRICS declaration on competition in digital markets

On 26 November 2024, the BRICS competition authorities, including Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates, adopted a joint statement on the "Need to Consolidate Efforts to Maintain Healthy Competition in Socially Significant Markets". The authorities addressed approaches used to address uncompetitive practices of digital platforms, ecosystems and marketplaces. The statement emphasises notes the need for a combined approach of applying legal norms and improving antitrust legislation while supporting market-driven self-regulation. The statement summarised identified unfair practices that are being investigated by antitrust authorities in the association.