The heads of Russia’s antitrust regulator and Saudi Arabia’s competition authority discussed expanding bilateral cooperation during talks at the St. Petersburg International Economic Forum.
Maxim Shaskolskiy, head of Russia’s Federal Antimonopoly Service (FAS), and Fahad Alshathri, head of the General Authority for Competition of Saudi Arabia, held bilateral talks on the sidelines of the St. Petersburg International Economic Forum.
Shaskolskiy noted that the meeting comes as Russia and Saudi Arabia mark 100 years of diplomatic relations. He said the two countries are strategic partners across a range of areas, while cooperation on competition policy began in 2019.
“During the talks, the agencies exchanged views on promoting competition in socially significant markets and proposed sharing experience in improving antitrust legislation and enforcement practices in the digital economy,”
the FAS press service said.
The two sides also agreed to use confidentiality waivers when discussing global merger and acquisition transactions.
The officials pledged to strengthen cooperation both bilaterally and through international platforms, including BRICS+, the United Nations Conference on Trade and Development (UNCTAD), and events organized by the Arab Competition Network (ACN).
Shaskolskiy invited representatives of Saudi Arabia’s General Authority for Competition to take part in FAS events scheduled for later this year.
Source: FAS
