Cabinet approves MOU between CCI and Administrative Council for Economic Defense of Brazil

Section 18 of the Competition Act, 2002 permits CCI to enter into any Memorandum or arrangement with any agency of any foreign country for the purpose of discharging its duties or performing its functions under the Act.

The Union Cabinet, chaired by Prime Minister Shri Narendra Modi today has approved the Memorandum of Understanding (MOU) between the Competition Commission of India (CCI) and the Administrative Council for Economic Defense of Brazil (CADE).

Section 18 of the Competition Act, 2002 permits CCI to enter into any Memorandum or arrangement with any agency of any foreign country for the purpose of discharging its duties or performing its functions under the Act.

Accordingly, CCI has entered into the following six MoUs:

Federal Trade Commission (FTC) and Department of Justice (DOJ), USA

Director-General Competition, European Union

Federal Antimonopoly Service, Russia

Australian Competition and Consumer Commission and

Competition Bureau, Canada and

BRICS Competition Authorities.

The present proposal relates to the signing of a similar MOU between CCI and CADE.

(With Inputs from PIB)