OREANDA-NEWS. November 01, 2012. The Head of the Federal Antimonopoly Service (FAS Russia) Igor Artemiev made this statement at the IV Annual Conference “Antimonopoly Regulation in Russia”, reported the press-centre of FAS Russia.

In the opinion of Igor Artemiev, it is necessary to improve and advance approaches to determining acceptable pricing practices. According to the Head of Russian competition authority, these practices must comply with the market trends and be formed in view of the market characteristics and economic stimuli, affecting economic entities operating on the market. “One of the key today’s tasks of the Antimonopoly Service is to use the best global practices of market pricing. We have worked on this system for over three years in order to find the most accurate method for calculating fair prices”, pointed out Mr. Artemiev.

In his report, the Head of FAS emphasized that choosing a non-market mechanism for pricing regulation can result in considerable distortion of the incentives for economic entities and, as a consequence, reduce efficiency of the relevant markets. “Defining the fair price today, we increasingly move from the costs method to the method of comparable market”, stated Igor Artemiev.

Summing up his report, Igor Artemiev said that the main element of FAS strategy for the next 12 years is to comply with the elite practices of competition protection. He emphasized that “with “the third antimonopoly law” coming into effect reforms of competition law was completed. The preparatory stage is over, now it is necessary to level the existing practices with the best global regulations and be included in the top ten competition authorities in the world”.