FAS REPORTED ON MEASURES TO ENSURE COMPETITION IN FOOD MARKETS DURING BRICS WORKING GROUP MEETING

It was reported by the Deputy Head of FAS Russia Andrey Tsyganov at the Conference on Competition Law, Economics and Policy in South Africa

Measures of antimonopoly regulation in digital and food markets in current conditions have become one of the key topics of the event.

Within the framework of the conference, a meeting of the BRICS Working Group for the Research of Competition Issues in the Food Markets, co-chaired by the antimonopoly authorities of Russia and South Africa, was held.

Andrey Tsyganov spoke about the experience of FAS Russia in the field of regulation of the food markets, aimed at stabilizing prices for raw materials, preventing supply shortages, as well as ensuring food security.

According to him, FAS Russia monitors the situation on the food market and, in case of revealing violations, immediately takes response measures. In total, in the first half of 2022, 10 cases on violation of antimonopoly legislation were initiated in this sector, 49 admonitions and 23 warnings were issued.

Besides, within the framework of the conference, Andrey Tsyganov made a report at a plenary session devoted to regulation issues in digital markets. He spoke about the development of the fifth antimonopoly package. The document will establish legal mechanisms to counteract digital cartels. In addition, it will also protect consumers from abuses of market power by digital monopolies.

As one of the examples of the work carried out by FAS Russia in digital markets Andrey Tsyganov noted the experience of investigations in relation to the actions of companies such as Apple, Google and Yandex.

At the end of his speech, the Deputy Head stressed that the development of a competitive environment is a priority for all BRICS member states, and the parties need to continue cooperation between antimonopoly agencies in the future to protect the interests of citizens.