9 Jun 2009 14:46

Agreement signed for fight against corporate raiding, corruption, counterfeiting

MOSCOW. June 9 (Interfax) - Russian Prosecutor General Yury Chaika and Commerce and Industry Chamber President Yevgeny Primakov signed an agreement on cooperation between Russian Prosecutor General's Office and the Commerce and Industry Chamber in Moscow on Tuesday.

"The purpose of the agreement is to strengthen law and order in the sphere of entrepreneurial activities and envisages cooperation in areas such as the protection of the rights and lawful interests of businesses, anti-corruption activities, measures to fight illegal enterprise, overcoming administrative barriers, takeovers of companies through corporate raiding, and illegal division of property," the Prosecutor General's Office said in a statement on Tuesday.

The agreement also envisions measures to protect the market from counterfeit products and to monitor the observance of the rights and interests of businessmen.

After singing the document, Chaika said he is hoping that "the cooperation agreement will be informal and will help take effective measures to observe law and order in the sphere of entrepreneurial activities with the Commerce and Industry Chamber, which began earlier."

Primakov, in turn, said he believes the main purpose of the document is to fight corruption and corporate raiding takeovers. 'We are hoping that the prosecutors will continue to promptly react to illegal actions, including by officials, in relation to businessmen, as well as facts of corruption and illegal division of property."

"Russia cannot have a future if it does not fight corruption, which has permeated all layers of society," said Primakov.

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