Russian government approved the concept of labeling and traceability of goods

On December 28, 2018, the Russian government approved the concept of creating and operating a system of marking and traceability of goods. The document is aimed at eliminating the illegal circulation of industrial goods, according to Russia's Federal Agency for Fisheries.

The law on the establishment of the state information system for monitoring the turnover of goods subject to mandatory marking by means of identification was signed by the President of Russia on December 25, 2018 and it will enter into force on January 1, 2019.

The key objectives of the creation and operation of the system of marking and traceability of goods are:

* ensuring the receipt of timely and reliable information on the movement of goods within the framework of economic activities of organizations, which will create the necessary conditions for reducing the volume of illegal turnover of industrial products and its impact on the development of the economy and social sphere of the country, security and protection of life and health of citizens, increasing the collection of taxes and customs duties and improving tax discipline, as well as monitoring and control of the competitive environment in the commodity markets;

* ensuring the development of high-tech solutions for the processing of mandatory data to create new services and business models based on the use of data.

The state information system may be operated by a Federal Executive body or a private partner on the basis of a public-private partnership agreement.