Antitrust authority to be set up in Belarus

An antitrust authority will be set up in Belarus, Deputy Prime Minister of Belarus Sergei Rumas said at the House of Representatives on 16 February.

“We want to create an authority to monitor the observance of the antimonopoly laws,” he said.

Sergei Rumas noted that an antirust body does not exist in Belarus as such. There is the pricing department under the Economy Ministry, but this agency is outdated, Rumas believes.

Today, the government has to deal with the conflict of interest in various fields of economy almost on a daily basis. Unfortunately, the legislation in force is not effective enough to prevent hostile takeover of companies in some cases. That is why a more effective antimonopoly legislation is being drafted at the moment,” Sergei Rumas said.

He said that the government has already submitted a proposal to the President to liquidate the pricing department under the Economy Ministry and create the antitrust department. “In the future, as the market economy develops, the antitrust department may evolve into an independent authority subordinate to the government,” Sergei Rumas concluded.

According to