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Belarus suggests UNCTAD discussion about joint international effort to fight cartels

Economy 12.07.2019 | 17:19

MINSK, 12 July (BelTA) – Belarusian Antimonopoly Regulation and Trade Minister Vladimir Koltovich has suggested discussing ways to consolidate efforts of the international community in the fight against cartels within the framework of the intergovernmental group of experts in UNCTAD, the ministry's representatives told BelTA.

The 18th session of the intergovernmental group of experts on legislation and competition policy took place in Geneva on 10-12 July. A report on efforts of the UNCTAD discussion group on international cooperation was presented during the session. The development of draft guidelines and procedures of international cooperation was mentioned among other things.

The guidelines are designed to enable effective interaction of antimonopoly bodies of different countries as they look into violations of competition rules on transboundary markets, mergers, and cartels. Belarus was one of the initiators of developing this document.

In the course of discussions about the draft document Chairman of the CIS Interstate Council for Antimonopoly Policy, Antimonopoly Regulation and Trade Minister Vladimir Koltovich backed the idea of adopting the guidelines and the procedures of international cooperation during the next United Nations Conference to Review All Aspects of the Set of Multilaterally Agreed Equitable Principles and Rules for the Control of Restrictive Business Practices in 2020.

Vladimir Koltovich mentioned the importance of the document in current conditions of market globalization because it reflects the main principles and practical mechanisms of cooperation of antimonopoly bodies of different countries. Apart from that, Vladimir Koltovich suggested discussing ways to consolidate efforts of the international community in the fight against cartels within the framework of the intergovernmental group of experts in UNCTAD.

The day before members of the intergovernmental group of experts discussed a draft review of Belarusian legislation on competition. The document had been prepared by UNCTAD experts together with experts from South Korea, Canada, and other countries. Participants of the meeting were informed about efforts of the Antimonopoly Regulation and Trade Ministry to encourage competition in detail.

Vladimir Koltovich met with UNCTAD Deputy Secretary General Isabelle Durant. The review of Belarusian legislation on competition was discussed during the meeting. The sides also discussed the set of tools backed by the Belarusian Antimonopoly Regulation and Trade Ministry and designed to enable international cooperation of competition authorities in counteracting restrictive business practices of transnational corporations and violations of competition rules of transboundary nature.

Vladimir Koltovich said that an international conference on competition will take place in Minsk in November 2019. He invited representatives of the UNCTAD Secretariat to take part in it.

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