Andrey Tsyganov, Deputy Head of the FAS of Russia, spoke at the plenary session of the Fair Competition Conference held in Wuhan, China.
At the beginning of his speech Andrey Tsyganov thanked his Chinese colleagues from the General State Administration for Market Regulation of the People's Republic of China (SAMR) for interaction and cooperation. The People's Republic of China occupies a special place for Russia in the sphere of international trade and investment.
In this regard, as noted by the Deputy Head of the FAS of Russia, antimonopoly regulators play an important role in the formation of an effective market environment and a favorable business climate both in national markets and within the framework of international economic relations.
Andrey Tsyganov said that Russian antimonopoly legislation and the practice of its application are constantly evolving, effectively responding to the challenges of our time. In 2023, the “fifth antimonopoly package” was adopted. Amendments to the Law on Protection of Competition are aimed at improving antimonopoly regulation of digital markets. With regard to international cooperation, FAS of Russia has developed the Principles of Interaction Between Participants in Digital Markets. This document is recommended for use in CIS member states. The creation of Model Principles and Standards of Behavior inDigital Markets in the BRICS format is nearing completion.
The Deputy Head of the FAS of Russia emphasized the importance of control over antimonopoly legislation compliance in socially important markets. The Service constantly monitors food prices and continues to work with major federal retail chains to voluntarily limit markups on socially important goods. In the pharmaceutical market, thanks to regulation, the prices for medicines from the list of vital and essential drugs have been reduced. The antimonopoly authorities of China and Russia are co-chairs of the BRICS Working Group on Competition in Pharmaceutical Markets. The meeting of the Working Group under the auspices of the Russian presidency of BRICS in 2024 was held on the eve of the conference.
Andrey Tsyganov paid special attention to the topic of international cooperation with key partners, including strengthening cooperation with the PRC's SAMR. The antimonopoly agencies of the two countries are actively working within the BRICS and The Shanghai Cooperation Organization (SCO) frameworks and jointly promote initiatives at the UN Conference on Trade and Development.
Source: FAS
