SYNCHRONIZING CONDITIONS FOR CROSS-BORDER MERGERS FACILITATES DEVELOPMENT OF OUR ECONOMIES

Stated Head of FAS at a business meeting with representatives of BRICS competition authorities

A business meeting of FAS top officers and representatives of BRICS competition authorities took place on 17 May 2018, during St Petersburg International Legal Forum.

Head of FAS Igor Artemiev emphasized successful joint efforts under the frame of BRICS Steering Committee and thanked the participants for consultations and useful professional interaction.

Igor Artemiev suggested to discuss possibility and a format of a Summit of the leaders of BRICS competition authorities with top executives of the largest pharmaceutical companies - BRICS vs Big Pharma.

Head of FAS informed that the Federal Antimonopoly Service approved a petition of “Bayer” to acquire more than 50 % voting shares of “Monsanto” and issued an order to exercise measures designed to develop competition in the agro-technological sector of Russia through building up competitive ability of Russian companies.

“The results we reached through negotiations are absolutely essential for developing competition in the agro-technological sector of Russia. We would not be able to achieve them without close cooperation with BRICS competition authorities”, emphasized Igor Artemiev. “Intensive cooperation with the antimonopoly bodies of BRICS countries in the course of merger consideration, particularly, through confidentiality waivers, enabled us to openly discuss concerns around this merger for developing competition on the agro-technological market of our countries and the conditions that our agencies were going to set”.

“Hopefully, we continue our efficient cooperation on particular cases and mergers, and we will endeavour to synchronize  and unify conditions to make the most effective decisions to the benefit of developing our economies”, added the speaker.

Head of FAS discussed a concept of creating BRICS Research Centre with the participants. “We propose to start establishing BRICS Centre – initially as a resource web-platform and then as a fully-fledged physical office – in Russia. It will allow to launch BRICS Centre to work right now and will not require any costs and long intrastate financial approvals from other BRICS countries”, said Igor Artemiev.

Discussing cooperation under UNCTAD umbrella, Deputy Head of FAS Andrey Tsyganov pointed out that “FAS repeatedly agreed to pursue coordinated policy regarding our international counteragents. It especially concerns restrictive business practices of large transnational corporations. Efforts are being undertaken at UNCTAD to discuss the draft Toolkit for International Cooperation between competition authorities to counter restrictive business practices of large transnational corporations”.

Deputy Head of FAS informed that a letter had been sent earlier to all BRICS competition authorities about co-sponsorship of the draft Toolkit, which is currently under consideration by UNCTAD Discussion Group. He emphasized that co-sponsorship does not imply any financial or other obligations, and means support to discussing the initiative by UNCTAD Intergovernmental Expert Group.

Finally, Andrey Tsyganov underlined successful joint efforts within BRICS Working Groups and expressed hope that such productive cooperation will continue.

FAS representatives informed about events organized under BRICS format and invited their BRICS colleagues to take part in the next Competition Week in Russia on 24-26 September 2018 in Sochi.

Igor Artemiev also informed the colleagues about 2019 BRICS Conference:

“The process of organizing BRICS Conference that we will be happy to host in Moscow in 2019 is reaching the active stage. We received the orders from the RF Government about it and in the near future will start to compile the event agenda. We would welcome your proposals on the issues that would be of interest for you to discuss and we very much hope to see all of you at the event”.

Reference:

Representatives of Brazil Administrative Council on Economic Security, India Competition Commission, China’s State Administration of Industry and Commerce, South African Competition Commission took part in the event.