OREANDA-NEWS. November 25, 2014. At a meeting of the Council of the Eurasian Economic Commission in Moscow an agreement was signed on the Procedures for confidential information protection and liability for disclosing it in the course of the Eurasian Economic Commission exercising its powers to control compliance with the common competition rules.

The Agreement was drafted by the Russian Federation in the person of the Federal Antimonopoly Service (FAS Russia).

The Agreement determines the objectives and restrictions of using confidential information by relations participants, particularly, the Eurasian Economic Commission (the Commission) and the authorized bodies, whose competence includes carrying out competition policies.

The Agreement covers relations associated with confidential information protection, involving the Commission, the authorities, legal and physical persons of the member-states of the Customs Union and the Common Economic Space.

The Agreement also determines the procedures for confidential information protection and liability of the persons that have access to such type of information, for violating the Procedures and its disclosure.

Adopting the Agreement is a necessary stage of assigning powers to the Commission to control compliance with the common competition rules on the cross-border markets.

The authorized bodies of the member-states of the Customs Union and the Common Economic Space, particularly FAS, are performing domestic procedures for the Agreement coming into force.

“Signing the Agreement practically completes a rather long period of drafting a package of documents required to support the work of the Eurasian Economic Commission in the field of compliance with the competition rules on the common market of Belarus, Kazakhstan and Russia”, commented Deputy Head of FAS, Andrey Tsyganov.