Rio de Janeiro hosts a meeting of the BRICS Working Group for the Research of Competition Issues in Digital Markets

The meeting of the BRICS Working Group for the Research of Competition Issues in Digital Markets was held on 22 November 2024 in Rio de Janeiro under the auspices of Russia’s BRICS Chairship in 2024.

The meeting of the Working Group was devoted to the issues of competition policy and anti-monopoly regulation of the digital economy. The Working Group is co-chaired by the FAS Russia and the Administrative Council for Economic Defense of Brazil.

During the meeting, the participants discussed the latest trends and initiatives in the protection and development of competition in digital markets in BRICS countries, exchanged experience in adapting and improving competition law to new economic realities, and assessed the practical applicability of BRICS competition authorities' Reports on the Regulation of Competition in Digital Markets and the Model Principles and Standards for the Activities of Digital Market Participants in BRICS countries, which were approved in July 2024. Special attention was paid to the digital transformation of industries and markets associated with the intensive introduction of artificial intelligence, which is one of the major challenges for modern competition policy.

The event brought together representatives of competition authorities from BRICS and other countries, as well as academicians and experts from Brazil, China, Egypt, Ethiopia, India, Iran, Mexico, Russia and South Africa, which allowed for a comprehensive discussion of competition issues in digital markets, exchange of experience and best practices.

At the end of the meeting, the participants agreed to study the impact of changes in digital standards and algorithmic dynamic pricing on competition, as well as to explore the challenges of regulating marketplaces in BRICS countries.

The meeting of the BRICS Working Group for the Research of Competition Issues in Digital Markets was the final event in the field of competition of the year of the Russian Chairship in BRICS in 2024. BRICS competition authorities summarized the results of their work and outlined plans for further joint activities.

The Roscongress Foundation manages the events of Russia’s BRICS chairmanship.