Competition drives innovations

The session was moderated by Deputy Head of FAS Sergey Puzyrevsky. He pointed out that emerging new markets put new objectives to competition authorities and judges. “We should quickly adapt to the changing conditions. Together with experts and the academic community we should devise modern approaches to regulating cross-border markets”, pointed out Deputy Head of FAS.

CEO of the Association of European Business (AEB), Frank Schauff, outlined the experience of cooperation with FAS. He emphasized that the Association had chosen self-regulation, aimed at transparency and openness of actions. The outcome of such efforts of Russian competition authority and AEB was adopting two Code of Ethics: for car manufacturers and the pharmaceutical industry.

Then the participants discussed new challenges of the antimonopoly bodies at the modern stage: for instance, anticompetitive agreements in high-tech markets and abusing dominance in the field of information technologies.

Based on the presented cases, unlawful actions by economic entities that led to eliminating and restricting competition were analyzed in detail. Participants emphasized that such violations are typical for many countries.

Summing up the second part of the Plenary session, representatives of competition authorities, scientists and experts gave examples of some sectors of the economy moving from monopolies to a competitive state. In their opinion, it is competition that enables innovative market transformations.