OREANDA-NEWS. "Under globalization of economic relationships and market internationalization, there is an essential need for joint efforts of competition authorities," said the Head of the Federal Antimonopoly Service, Igor Artemyev in his speech at the opening ceremony of the 6th Annual Conference of the International Competition Network (ICN), reported the press-centre of  FAS Russia.

It is ICN that creates practical opportunities for enhancing cooperation between different states on competition policy by involving as many countries as possible", emphasized Igor Artemyev.

Today ICN is an influential international association of the antimonopoly authorities from various countries, aimed at developing proposals on realistic convergence of competition policies to achieve best practical results.

The Head of the Russian antimonopoly authority informed the Conference participants and guests that the new Law "On Protection of Competition" devised by the Federal Antimonopoly Service, came into force on 26th October 2006. The new law introduced many novel institutions that are of principal importance for the Russian legislation, it has changed approaches to some existing key concepts and procedural tools. According to Igor Artemyev, the law matches modern international standards and takes into consideration specific features of the Russian markets.

Mr Artemyev also said that the Russian Government fully supports the position shared by majority of the ICN members that successful actions against infringements of the antimonopoly legislation require adequate sanctions. Therefore, the Government endorsed tha FAS initiative on introducing amendments to the Code of Administrative Violations. As a result, on 13th May the so-called 'turnover" penalties came in force in Russia. Now companies engaged in unfair business practices will have to pay for violating the antimonopoly legislation from 1 to 15% of their annual sales proceeds on the goods market where the violation occurred. Thus, Russia has formed a system of efficient sanctions that will deter infringements of the antimonopoly legislation.

In his speech, the Head of FAS Russia also talked about the reforms of natural monopolies, in which the antimonopoly authority is actively involved. "Reforms in the energy, telecommunications and transport sectors are designed to ensure transition from the state system of price regulation, that proved to be inefficient, to the market mechanisms providing competition amongst companies and achieving the balance of interests between producers and customers",- said Igor Artemyev.

Concluding his speech, Mr Artemyev drew attention to the fact that Russian integration into the system of global economic relations predetermined wide participation of the Russian antimonopoly authority in developing the national trade and economic policy. According to Igor Artemyev, efficient involvement of the Russian competition agency in regulation of foreign economic relations towards preventing unreasonable protectionism in applying trade restrictions facilitates pro-competitive development of the Russian economy.