Maksim Ermolovich: “Digital technologies open up new opportunities for trade, shaping a request for creating and promoting sustainable and fair business behavior practices, with due regard to the interests of society”

On June 5, Maksim Ermolovich, Minister in charge of Competition and Antitrust Regulation of the Eurasian Economic Commission, attended the thematic session “Eurasian Digital Union” as part of the TIBO-2024 Forum in Minsk.

The attendees discussed relevant aspects of ensuring four freedoms for the Eurasian Economic Union's citizens, developing competition in the context of digitalization, as well as the status and objectives of digital transformation of technical regulation.

Maxim Ermolovich focused on the issue of regulating marketplaces, as large players can abuse their position in the market, suppressing competition and limiting consumer choice.

The main problems faced by regulators and legislators in the EAEU States were discussed as well: market dominance, transparency and data protection, liability and content control, taxation of marketplaces, consumer rights protection, and compliance with competition rules in new markets.

“Despite all the regulatory challenges, online platforms have opened up access to global markets, giving companies the opportunity to compete freely in the global economic environment. It is them, challenging traditional models, that force us to rethink and develop new well-balanced rules and laws that take into account the interests of all parties: users, sellers and the platforms themselves,” the EEC Minister said.