Pakistan’s competition commission initiates talks with Russian counterpart for bilateral cooperation

KARACHI: The Competition Commission of Pakistan (CCP) has started negotiations with the Federal Antimonopoly Service (FAS) of the Russian Federation for bilateral cooperation and to build its own capacity in the realm of digitalization, said an official statement released Saturday.
The CCP has intensified efforts to forge partnerships with key regulatory bodies worldwide. It is an active member of the International Competition Network and collaborates with the United Nations Conference on Trade and Development.
The FAS has been in the forefront of implementing a robust digital agenda since Russia enacted legislation in 2017 to facilitate the digitalization of the economy. The official statement said Pakistan stood to gain valuable insights and expertise from the Russian experience in this regard after getting into a formal collaboration.
“The signing of a Memorandum of Understanding (MoU) with the Russian regulator is expected to facilitate capacity building for CCP, especially in the realm of digitalization,” it said. “The collaboration will also pave the way for joint research projects in crucial enforcement areas, which will further strengthen CCP’s enforcement capabilities.”
The CCP and FAS both work on the same principle of promoting fair competition, enhancing market efficiency and safeguarding consumer welfare. The proposed MoU aims to establish a framework for bilateral relations based on principles of equality and mutual benefit.
Pakistan’s competition commission hopes to gain valuable insights into emerging challenges such as digital markets and cross-border cartelization by partnering with its Russian counterpart.
“This collaboration will also help in eliminating entry barriers and addressing anti-competitive practices, thereby creating opportunities for Russian companies to invest in Pakistan and contribute to the development of various markets in the country,” the statement added.