During the ongoing 3rd BRICS International Competition Conference (ICC), 2013, the representatives of competition regulators in mature jurisdictions such as European Union(EU), USA, Australia, France and Canada have shared their experiences relating to competition law, innovation and economic development with their counterpart competition authorities of Brazil, Russia, India, China and South Africa(BRICS). Delivering the key note address, Joaquin Almunia, Vice President (EC) and European Commissioner for Competition, advocated the need to enhance cooperation relating to cases between EU and BRICS countries. He stated that the legitimacy of competition authorities rests on the principles of transparency and non-discrimination and promotion of cooperation through international competition agencies such as ICN. Edith Ramirez, Chairwoman, US FTC shared the experiences of US Federal Trade Commission of the past 100 years. She said that the conclusion that can be derived from this long experience is that competition in the markets leads to consumer welfare and competition leads to innovation. She also underscored the importance that competition agencies should give emphasis on advocacy and specifically with the Government departments and agencies to ensure pro-competitive government policies. Marc John Pearson, Deputy CEO Regulation, Australian Competition Commission, Emmanuel Combe VP French Competition Authority and Rindon Michelle Ofner, USDOJ also shared the experiences of their respective countries.