BRICS ANTIMONOPOLY REGULATORS NEED TO CONSOLIDATE EFFORTS TO MAINTAIN FAIR COMPETITION IN THE MARKETS

Maxim Shaskolsky, Head of FAS Russia, discussed it during the meeting of the BRICS Coordination Committeeon Antimonopoly Policy, which includes the Heads of Competition Authorities from all five countries of the association

According to the Head of FAS Russia, the support of socially significant markets and markets of critical infrastructure is becoming particularly relevant all over the world. Under these conditions, the convergence of antimonopoly regulation practices will have a positive effect for the maintenance and development of markets, ensuring free trade turnover and stabilization of logistics chains.

In this regard, FAS Russia proposes to prepare a draft Joint Statement by the Heads of the BRICS Competition Authorities on the need to consolidate efforts to maintain fair competition in the commodity markets. According to FAS Russia, it will have a positive impact on the economies of all the BRISC countries.

Maxim Shaskolsky also noted the need to continue work on regulating digital markets. In the context of the development of e-commerce and internet trading, it is necessary to protect consumers from abuse by digital giants. For this purpose, FAS Russia has developed the "fifth antimonopoly package", which has already been approved by the State Duma of the Russian Federation in the first reading.

Besides, in order to ensure effective antimonopoly control in digital markets, it is necessary to expand cooperation between competition authorities of different countries. Mutual experience exchange will improve the mechanisms of regulation of digital markets and will contribute to the creation of transparent business rules across BRICS countries.

At the end of the meeting, the Head of FAS Russia thanked the representatives of BRICS Competition Authorities for fruitful cooperation and noted that FAS Russia is also always open to dialogue with colleagues.