The antitrust regulation system of the Eurasian Economic Union combines monitoring of competition within national jurisdictions through harmonization of laws and supervision of adherence to the general competition principles in trans-border markets. While curbing attempts to stifle competition in the territories of the member states of the Union remains the domain of the national antitrust bodies, the authority to protect competition and carry out antitrust supervision on the trans-border markets has been given to the Eurasian Economic Commission, write Analytical Center experts in their new bulletin on the development of competition.
The experts believe that openness and transparency in the activities of national antitrust bodies and the policy they pursue in order to ensure competition in the territory of the member states of the Union in conjunction with strict national laws and severe punishment meted out for any attempts to curb competition as the countries try to integrate their economies are an additional factor affecting how attractive various jurisdictions are regarded by business. For example, Belarus generally tends to have the most severe punishment for antitrust violations, with every antitrust violation resulting in fines being imposed as a percentage of sales.
The Eurasian Economic Commission has authority in a broad range of areas regulated by the Agreement on the Union and other international agreements concluded within the framework of the Eurasian Economic Union, the experts note. In such areas as supervision of natural monopolies, regulation of state procurement and consumer rights protection, the competency of the Eurasian Economic Commission tend to be restricted to the issues of monitoring and harmonization of national laws. The authority of the Eurasian Economic Commission with regard to protecting competition and antitrust supervision in the goods markets involves curbing such violations as abusing a dominant position, underhand competition, anti-corruption agreements and economic regulations that limit competition.
The Eurasian Economic Commission is a transnational body authorized to curb violations of the general competition principles in trans-border markets. Even though the conditions that a market must meet to qualify as a trans-border market are regulated by a separate regulatory document of the Union, there still remain a number of problems related to delineation of authorities of the national antitrust bodies of the member-states of the Eurasian Economic Union and the Eurasian Economic Commission, the analysts write.
The experts also note that at the moment active studies are underway into how to expand the toolkit of the Eurasian Economic Commission and introduce the mechanisms to prevent and anticipate violations that are already in use in the majority of the Eurasian Economic Union member-states.
For more details, see the bulletin the Authorities of the Eurasian Economic Commission with Regard to Protecting Competition.
For other bulletins on competition development seePublications.