Govt okays MoU b/w CCI & Brazil’s Administrative Council for Economic Defense

at 8:28 pm

New Delhi (NVI): The Union Cabinet chaired by Prime Minister Narendra Modi today approved signing of a Memorandum of Understanding (MOU) between Competition Commission of India (CCI) and 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, read an official statement by the Government.

Accordingly, CCI has entered into six major pacts including Federal Trade Commission (FTC) and Department of Justice (DOJ), USA; Director General Competition, European Union; Federal Antimonopoly Service, Russia; Australian Competition and Consumer Commission; Competition Bureau, Canada; and BRICS Competition Authorities, as per the statement.

The present proposal relates to signing of a similar MOU between CCI and CADE, it said.