Russian State Fishing Committee Unveils Internet Auction System Today

The Russian State Fishing Committee will today unveil a new Internet auction system, created using the latest computer business technology. The Committee's information and analytical centre told Rosbalt's correspondent that in the near future it is planned to introduce the system into the industry for trading seafood.

According to experts from the Fishing Committee, the Internet auction system could potentially become an alternative to auctions for selling fishing quotas. A virtual market in seafood would have none of the drawbacks of 'quota' auctions. Experts believe that introducing the new system would allow a civilised seafood market to be created in Russia, as well as ensuring the transparency of deals and financial transactions. The Internet auction system would reduce delays, lower retail prices for seafood, raise quality, and attract investment. The new system would also allow a single production catalogue to be created, monitoring of the level of prices and pricing to be carried out, and would provide real-time information on the situation in the Russian sea food market.