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Maxim Ermolovich, "There is a need for harmonizing legislation in the field of commodity exchange trading in the Union countries"
Maxim Ermolovich, Minister in charge of Competition and Antitrust Regulation of the Eurasian Economic Commission, took part in the 7th International Forum Russian Energy Week in Moscow on September 27.
Energy development through the expansion of energy trading and the need to standardize exchanges, the "gold standard" of exchange trading, were the main topics of the business breakfast organized at the forum by the St. Petersburg International Mercantile Exchange.
Maxim Ermolovich noted that in the near future at the meeting of the Eurasian Intergovernmental Council it is expected to approve the Concept for Establishing a Common Exchange Market for Goods within the EAEU.
"The program documents envisage, among other things, the development of the price indicator mechanism of our common markets. The agreement concluded by the exchanges of the five countries at SPIEF this year will give an extra boost to this process and make indicators more representative. There is also a need for harmonizing legislation in the field of commodity exchange trading in the countries," the EEC Minister stressed.
Thus, according to Maxim Ermolovich, any innovations or changes in legislation should be discussed at an expert level with all countries of the Union in order not to create regulatory and technological obstacles to mutual trade.
"We will definitely take legislative and technological compatibility into account in our work. When addressing them, it is necessary to avoid unnecessary barriers," noted Igor Artemev, President of the St. Petersburg International Mercantile Exchange.
