Officials from competition authorities and experts representing BRICS member countries gathered for a key meeting hosted by Egypt.
Under the auspices of the Prime Minister, the meeting was dedicated to discussions on global food supply chains. Participants will deliberate on the application of competition policies and explore sustainable and competitive solutions to regulate the global grain trade.
This gathering marks Egypt’s first hosting of a competition-related meeting since its official inclusion in the BRICS group earlier this year. The primary objective is to devise new mechanisms to tackle distortions impacting the global grain trade market and combat anti-competitive practices. The aim is to ensure a consistent meeting of countries’ demands for these strategic goods at competitive prices, aligned with the capabilities and capacities of consumers worldwide, while alleviating financial burdens.
In his opening speech, Mahmoud Momtaz, Chairman of the Egyptian Competition Authority, extended a warm welcome to representatives from BRICS countries’ competition authorities and international experts. He expressed gratitude for Egypt’s role as host and its commitment to enhancing cooperation among member countries in competition policies and combating anti-competitive practices. Momtaz also thanked the Prime Minister for sponsoring the event.
Momtaz emphasized the pivotal role of general food supply chains, particularly in grain trade, in ensuring global food security. He highlighted the economic, social, and environmental factors influencing these chains, underscoring the challenges posed by fluctuations and disruptions in supply chains, as well as concerns regarding competition, pricing, and market stability.
Addressing the need for concerted efforts from competition authorities globally, Momtaz stressed the importance of combating anti-competitive practices, ensuring equal opportunities, and enhancing transparency to foster a competitive and inclusive market environment.
Andrey Tsyganov, Deputy Head of the Federal Antimonopoly Service of Russia, highlighted Egypt’s significance as one of Russia’s primary trading partners and commended the active role of the Egyptian Competition Authority. He underscored the importance of cooperation in exchanging experiences, especially regarding strategic issues such as global food supply chains.
Alexey Ivanov, Director of the BRICS Competition Law and Policy Centre, noted that the inclusion of new countries in the BRICS group presents an opportunity to enhance cooperation in combating anti-competitive practices, particularly in food supply chains and grain trade. He expressed gratitude to Egypt for hosting the event and outlined the agenda, which includes sessions on investigations into anti-competitive agreements and cross-border practices.
Teresa Moreira, Head of the Competition and Consumer Policies Branch at the United Nations Conference on Trade and Development (UNCTAD), emphasized the urgency of addressing global food supply chain issues and anti-competitive practices to prevent increases in food prices. She reiterated UNCTAD’s commitment to collaborating with the BRICS Competition Law and Policy Centre and its member countries to find innovative solutions to this pressing global issue.
