Egypt hosts inaugural BRICS meeting on global grain trade, anti-competitive practices

Heads and officials of the competition authorities and experts from the member countries of the BRICS group commenced, Wednesday. 

 

The meeting which took place under the auspices of the Prime Minister, is scheduled to continue on Wednesday and Thursday to discuss global food supply chains and how to apply competition policies and brainstorm on finding more sustainable and competitive solutions to regulate global grain trade.

 

This is the first competition related meeting hosted by Egypt after its official joining of the BRICS group earlier this year.

 

It aims to develop new mechanisms to address the distortions affecting the global grain trade market and combat anti-competitive practices in this regard to ensure regular and continuous meeting of the countries' demands for these strategic goods at competitive prices that align with the capabilities and capacities of consumers worldwide, and to alleviate the financial burdens on them.

 

During his opening speech, Mahmoud Momtaz - Chairman of the Egyptian Competition Authority - welcomed all representatives from the competition authorities of the BRICS countries and international experts, expressing his sincere gratitude for hosting this meeting in Egypt, which officially joined the BRICS group earlier this year. Contributing to supporting and enhancing cooperation between member countries in the field of competition policies and combating anti-competitive practices. Dr. Momtaz also expressed his gratitude to the Prime Minister of Egypt for sponsoring this event.