OREANDA-NEWS. May 04, 2012. At the 11th Annual Conference of the International Competition Network (ICN) in Rio-de-Janeiro, the Federal Antimonopoly Service (FAS Russia) and Portugal’s Competition Authority held negotiations, reported the press-centre of FAS Russia.

The FAS delegation was led by Stats-Secretary, Deputy Head of FAS Andrey Tsarikovsky. Portugal was represented by the President of Portugal’s Competition Authority, Manuel Sebastiao.

Russian – Portuguese relations in the field of competition has a long history of development, in course of which representatives of both authorities took part in the events organized by the parties and in information exchange on the most important issues of competition policy of competition policy, in particular, regarding pricing for oil and oil products.

As a result of the negotiations, the parties formalized their relations by signing a Memorandum of Understanding on cooperation on the field of competition law and competition policy between FAS and Portugal’s Competition Authority, which became one of the most important steps in moving Russian – Portuguese cooperation in the field of competition policy and enforcement to a new level.

The Memorandum expands possibilities for cooperation between the authorities and will encourage development of competition in both counties.