At the event, information was provided on the practical foundations of applying the Competition Code, and its potential contributions to improving the business environment and fostering entrepreneurship in the country were discussed.
Under the auspices of the State Service for Antimonopoly Control and Supervision of the Consumer Market, the Small and Medium Business Development Agency (KOBİA), and the National Confederation of Entrepreneurs (Employers) Organizations of the Republic of Azerbaijan (ASK), with organizational backing from the Agency and the Public Council, stakeholders convened to discuss "The New Competition Code: Navigating Changes in Competition Legislation and Their Business Ramifications."
The representatives of relevant state entities and about 80 business subjects participated in the event held under the framework of state-entrepreneurial cooperation at Baku SMB House.
Mr. Farkhad Garashov, chair of the Public Council at KOBİA, emphasized the forum's aim to inform entrepreneurs about the forthcoming Competition Code changes slated to take effect on July 1.
In particular, Mammad Abbasbayli, head of the State Service for Antimonopoly and Consumer Market Control, informed about the Competition Code, which was prepared on the basis of best international practices, and the modern approaches applied in the direction of continuous improvement of the business and competitive environment. Notably, the Competition Code, developed in response to new economic and social challenges and the need to ensure sustainable and competitive economic development through modern regulatory methods, has been enhanced with new regulatory tools. These tools address the need to ensure that entrepreneurs operate in a healthy competitive environment, prevent cartel-like relationships, organize effective oversight of natural monopoly entities, and eliminate cases of unfair competition and abuse of dominant positions.
The chairman of the Management Board of KOBİA, Mr. Orkhan Mammadov assessed the adoption of the Competition Code as one of the successes achieved in the direction of improving the economic legal framework of Azerbaijan. He highlighted the merits of the Code in fostering a free and competitive environment conducive to private sector growth, while safeguarding its principles. Educational initiatives aimed at elucidating the Code's benefits for KOB subjects will be rolled out through KOB's nationwide network.
Within the framework of the event, the practical grounds of the Competition Code's application were explained and the questions of the participants of the event were answered.
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