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Belarus, China to cooperate in price supervision

MINSK, 23 September (BelTA) - The Ministry of Antitrust Regulation and Trade of Belarus and the State Administration for Market Regulation (SAMR) of the People's Republic of China signed a memorandum of cooperation in the field of competition and price supervision, consumers protection and advertising regulation in Minsk on 23 September,BelTA has learned.

Belarus Minister of Antitrust Regulation and Trade Vladimir Koltovich noted that cooperation between Belarus and China is of a strategic nature. He believes that the signing of the memorandum will give a new additional impetus to the Belarusian-Chinese cooperation.

Vladimir Koltovich noted that the antimonopoly body in Belarus was established only three years ago. At the same time, the Chinese SAMR is only a year old. “New government bodies face similar problems such as selection of specialists, and most importantly, development of antimonopoly practices,” he said.

Once the memorandum is signed, the parties will be able to share information. “We will conduct joint market analyses, consider cases of competition rule violations by transnational corporations, because today globalization is erasing borders between the states,” the minister said.

China also expressed interest in exchanging experience with Belarusian counterparts.

Since founding, the Belarusian Ministry of Antimonopoly Regulation and Trade (MART) has signed memorandums of cooperation with ten countries. The ministry plans to sign three more agreements before the end of the year.

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