FAS Russia and Brazil Administrative Council for Protection of Economic Competition (CADE) signed a Memorandum on Cooperation

Joint investigations under the BRICS format were the main focus of the talks between the Head of the Federal Antimonopoly Service (FAS Russia) Igor Artemiev and CADE Commissioner, Paulo Burnier da Silveira on 27 September 2016 in the course of “The Russian Competition Week”.

“We are learning a lot from you. You have done better than us in the annual ranking of antimonopoly bodies from different countries of the world prepared by the Global Competition Review.  Congratulations!”, said Igor Artemiev.

According to the Head of FAS, five BRICS countries account for nearly half of the world population, and if the antimonopoly bodies of those countries issue join recommendations or conduct joint investigations on the socially important markets, transnational companies will have to listen to them.

Creating a global benchmark system is an important area for cooperation with the Brazil competition authority. Igor Artemiev invited Mr. da Silveira to join the efforts of the Working Groups on pharmaceuticals and fuel, which are already active.

The CADE member proposed a more robust cooperation and opinion exchange to counter cartels at tenders, stressing that this is one of the priorities in the work of Brazil competition authority.

CADE is currently conducting investigations on the capital construction market on the objects built up for the World Football Cup. The Head of FAS pointed out that the issue is quite important in anticipation of the World Football Cup in Russia in 2018.

Finally, the parties signed a Memorandum on Cooperation. Mr. da Silveira expressed confidence that cooperation between the two countries will become even more active after signing the Memorandum.