BRICS COMPETITION AUTHORITIES ARE DEVELOPING JOINT APPROACHES TO REGULATING SOCIALLY SIGNIFICANT MARKETS
It was stated by Andrey Tsyganov, Deputy Head of FAS Russia, during the 24th Yasin (April) International Academic Conference on Economic and Social Development
Under the current circumstances, support for socially significant markets is particularly relevant, since the ongoing changes directly affect the economies of the BRICS countries. The joint work of the BRICS competition authorities allows taking timely measures to maintain and develop markets, stabilize supply chains and free trade turnover.
Deputy Head of FAS Russia also spoke about the main areas of cooperation between the authority and the BRICS countries. In particular, it was about drafting joint documents and reports that provide practical recommendations for development of a pro-competitive environment in the markets. For example, in 2019, a study on the state of competition in digital markets was prepared, in 2021 – in automotive markets, in 2022 – in food markets.
Besides, Andrey Tsyganov noted that the BRICS competition authorities are jointly preparing a review of leniency programs in cartel cases, as well as interacting during the consideration of transactions of economic concentration and the investigation of cross-border cases.
Furthermore, the authorities actively cooperate in the development of agreed positions on relevant international platforms. With the assistance and support of the BRICS countries, a project was initiated within the framework of the UNCTAD Working Group on Cross-Border Cartels. One of the activities of this Working Group is the creation of global UN standards for combating cross-border cartels.
At the end of the event, the participants noted that the mutually beneficial partnership between the BRICS competition authorities improves the quality of law enforcement activities of the association’s countries and the effectiveness of ongoing investigations.