FAS of Russia Keeps Developing Cooperation with Antitrust Bodies of BRICS Countries

FAS of Russia Keeps Developing Cooperation with Antitrust Bodies of BRICS Countries
Photo: brics-legal.com 24.10.2024 938

This was announced by Andrey Tsyganov, Deputy Head of the FAS of Russia, in his speech at the international forum New Economy Legal Infrastructure Forum BRICS 2024, which was held in Moscow.

At the specialized session, Andrey Tsyganov spoke about the formats of cooperation between antimonopoly authorities and the prospects for further cooperation. The speaker noted that the BRICS countries have been cooperating in the antimonopoly sphere since 2009, with the Russian Federation chairing the organization this year.

Cooperation between the BRICS countries in the field of antitrust policy is carried out in various formats, which is stipulated by a special Memorandum*. The BRICS CoordinationCommitteeon Antimonopoly Policy functions, and working groups on competition problems in socially important markets are active to study antimonopoly regulation in specific sectors and develop practical solutions.

Another form of interaction between the BRICS competition authorities is cooperation in the area of law enforcement, including in the assessment of global economic concentration transactions and in the examination of cases of violation of antitrust laws across borders. Andrey Tsyganov emphasized that such cooperation is characterized by the active involvement of the legal community representing the interests of companies. 

The Deputy Head of the FAS of Russia noted that the institutional international cooperation of the BRICS countries requires the development of a legal framework. The Service welcomes the initiatives of representatives of the legal community: publication of specialized publications with an up-to-date description of legal systems, formation of a rating (index) of law firms and lawyers of the BRICS countries.

*Memorandum of Understanding between the BRICS competition authorities in the field of cooperation in the field of competition law and policy was signed on May 16, 2016 in St. Petersburg.

Source: FAS

Russia 

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