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BRIC nations sign Beijing Consensus

(Xinhua)

16:09, September 22, 2011

BEIJING, Sept. 21 (Xinhua) -- The BRICS countries, including China, Brazil, Russia, India and South Africa, signed the Beijing Consensus on Wednesday, stating that coping with the financial crisis and promoting long-term, steady and relatively rapid economic growth are their shared tasks.

The consensus, signed at the second BRICS International Competition Conference, called on all countries and regions to build more consensuses and adopt effective competition policies, which it said "are vital for ensuring fair competition, protecting the interests of consumers and promoting the healthy development of a market economy."

BRICS countries pay great attention to new developments in global competition laws and policies, and are willing to share ideas on this issue, the consensus said.

Since the first BRICS International Competition Conference in 2009, the conference has served as an important platform for reinforcing communication and cooperation between BRICS members and various competition authorities, according to the consensus.

The second conference, which focused on the theme of "Competition Enforcement under Economic Globalization," attracted nearly 300 attendees from 55 international organizations and 43 countries and regions.

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