The extension of the mandate was discussed at the 20th session of UNCTAD's Intergovernmental Group of Experts on Competition Law and Policy.
The key objective of the working group is to improve international cooperation mechanisms in cross-border cartel investigations.
Deputy Head of the FAS Russia Andrey Tsyganov noticed that with the globalization of economic processes and growing digitalization cartels are cross-border, that's why the fight against them requires expansion and strengthening of international cooperation, according to the press release of the agency.
“Given the international scale of certain crises, it is crucial for authorities to exchange information across borders, to create effective mechanisms to counter companies that engage in cross-border practices restricting competition, considering the characteristics of the legal frameworks and law enforcement practices of different authorities”,
says UNCTAD's official report on the session.
The report also mentions the BRICS Competition Law and Policy Center, which is currently conducting an in-depth study on the development of new approaches to regulating digital ecosystems across BRICS.
Representatives of the Russian Federation took an active part in the meeting and presented a report on measures to support small and medium enterprises (SMEs) in Russia and improvement of legislation on competition and the practice of its application.
In addition, the parties discussed promising activities of the Intergovernmental Group of Experts in preparation for the UN Conference on Competition* in 2025.
UNCTAD is an organ of the United Nations General Assembly established in 1964. To date, 195 countries are members of UNCTAD.
*The UN Conference on Competition is held every five years. The conference is attended by representatives of UNCTAD member-countries, as well as representatives of business, scientific and expert communities.