The Administrative Council for Economic Defense (CADE) and the Competition Commission of India (CCI) signed a Memorandum of Understanding to establish a cooperation agenda between the countries on the 18th of June.
The document was signed in a virtual ceremony by the president of CADE, Alexandre Barreto, and the CCI president, Shri Ashok Kumar Gupta. The purpose of the agreement is to establish principles to guide the collaboration between the two antitrust agencies to promote competition and economic well-being in both countries.
During the meeting, Barreto and Gupta recognized the importance of international cooperation and the efforts made by the two institutions so far, especially within the BRICS.
"I am happy to see that, over the years, our bilateral and multilateral cooperation has increased significantly, both in quantity and in coordination. I have no doubt that collaboration with our colleagues has contributed a lot to the important achievements that have taken the defence of competition in Brazil to another level", said Barreto.
Under the agreement, CADE and CCI undertake, among other initiatives, to exchange information and experiences on investigations and mergers that involve economic agents in the countries and affect their territories. In addition, authorities will seek to research in the field of Competition Law.
The ambassador of Brazil to India, André Corrêa do Lago, also participated in the ceremony and reiterated the benefits of cooperation between the two countries.