Milli Majlis adopts Competition Code

12:50 - 8.12.2023

December 8, Fineko/ The Draft Law on the Approval & Entry into force of the Competition Code of Azerbaijan & Legal Regulation in this Regard has been submitted for discussion at today’s Milli Majlis meeting.

ABC.AZ reports that the Draft Competition Code consists of 12 chapters and 84 articles.

The Code will not only serve to prevent abuse of a dominant position and ensure competitive neutrality, but will also stimulate activities of business entities.

The Competition Code contains the legal basis for preventing monopolistic tendencies of economic entities that occupy a dominant position in the market, identifying cartel-type relationships, organizing effective control over the activities of natural monopolies, eliminating cases of unfair competition, and effectively organizing state competitive control.

The draft was submitted for discussion and adopted in the 3rd reading.

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