OREANDA-NEWS. March 11, 2010. A FAS Russia's representative Andrey Yunak, Deputy Head of the Department for International Economic Cooperation, participated in a session of the Group on Competition Policy and Law, Asia-Pacific Economic Co-operation (АPEС), in Hiroshima, Japan, reported the press-centre of FAS Russia.

This Group, along with Working Groups on other sectors of the economy, held their sessions as part of the first 2010 APEC Senior Officials Meeting, which is one of the major APEC events.

The Group on Competition Policy and Law focused on importance of transition to a new, game-changing level of cooperation between competition authorities to prevent restrictions of competition within APEC.

Overall the new FAS Russia's project, presented by Mr. Yunak for initial consideration of the Group, is designed to facilitate cooperation between competition authorities of the APEC member economies, particularly, in investigations of antimonopoly violations and control over economic concentration.

As a result of globalization and ongoing integration and aspiration of the APEC member economics to build free and open market, more and more multinationals enter the APEC markets through acquiring national companies. International cooperation plays an important role in ensuring coherent approach to such transactions within APEC and preventing restriction of competition, in particular, by developing and implementing mechanisms enabling timely information exchange.

In general, novelty of the Russian proposal caught the interest of the Group, so FAS Russia will continue promoting the project and endeavor to secure its approval by the APEC bodies.