Top Tweets for #competitioncode
The #CompetitionCode, which comes into force today, will facilitate the implementation of adequate tools and the adoption of more effective decisions in the fight against anti-competitive behaviors.
The #competition legislation that meets modern challenges will contribute to the determination of market shares through advanced tools, regulation of market relations, development of the private sector, strengthening of competition discipline, #economic growth, and optimal distribution of income.
The Competition Code will create broad opportunities for the development of a favorable #business environment in the country, increasing the number of economic entities, and attracting overall investments into the economy.
#CompetitionGovAz
The #CompetitionCode establishes a comprehensive regulatory framework to combat horizontal and vertical agreements between #economic entities, including #cartel-type arrangements.
#Horizontal and #vertical agreements are defined under the Competition Code as agreements between economic entities on purchase and sale prices, production, demand and supply volumes, joint determination of these indicators, establishment of unfavorable market conditions for economic entities not participating in the agreement, restriction of resale prices by the seller, and allocation of territories, raw material sources, and customer groups. These agreements are prohibited.
However, the new legal act introduces specific exemptions that will foster dynamic development of the #business environment and ensure the sustainability of supply chains.
#CompetitionGovAz
The complexity of modern #business processes necessitates additional research and the adoption of new technologies to meet forecasting, planning, and production requirements.
The #CompetitionCode has established real exceptions for business entities that engage in technology transfer, market research, and development activities with other #economic entities to improve production and sales, promote technical and economic progress, and ensure that #consumers receive fair additional benefits.
These exceptions aim to give a dynamic character to economic regulations in the relevant field, thereby stimulating the inclusive development of the national economy.
#CompetitionGovAz
The legal instruments concerning mergers and acquisitions in the #CompetitionCode have been improved and expanded.
In the legislation aimed at protecting #competition, effective regulatory methods have been established that take into account other market effects when assessing concentration.
In this regard, approval for mergers and acquisitions is granted if the competition authority determines that the technological, efficiency-enhancing, or competition-stimulating outcomes of the concentration outweigh its competition-restricting effects and do not harm #consumer interests.
With the application of the Code, significant results will be achieved in neutralizing the monopolistic behavior of economic entities.
#CompetitionGovAz
With the participation of entrepreneurs, we took part in a public discussion at the Baku SMB House about the impact of recent changes in #competition legislation on the #business environment.
We addressed key aspects of the #CompetitionCode aimed at stimulating entrepreneurial activity, market competition conditions, and ensuring sustainable #economic development.
We also emphasized the necessity of public-private partnership in this matter.
#CompetitionGovAz
We had a bilateral meeting with Mr Alexei Igorevich Bogdanov, Minister of Antimonopoly Regulation and Trade of the Republic of #Belarus.
During the meeting, we discussed legislative initiatives aimed at fostering a #business-friendly environment, such as the #CompetitionCode and improved legislative regulations in the field of #publicprocurement. We also underlined the significance of deploying digital solutions in relevant areas.
We discussed opportunities for strengthening cooperation and exchanging experiences in areas of mutual interest among institutions.
#CompetitionGovAz
According to the #CompetitionCode, all information about #economic factors shaping the prices of certain goods, services, and works, determined by a subject of natural monopoly, should be submitted to the #competition authority.
In this regard, the competition authority will be empowered to issue directives regarding the adjustment of prices that do not adhere to the standards established in the Code and are not solely based on economic considerations to align them with actual economic indicators.
As a result, the possibilities for subjects of natural monopolies to influence the competitive situation in the market will decrease, thereby significantly contributing to preventing the infringement of #business entities' and consumers' rights.
#CompetitionGovAz
We held a meeting with the representatives of natural monopolies to talk about the improved legislative measures mentioned in the #CompetitionCode. Our conversations focused on the legal and economic guidelines set forth by the Competition Code, as well as the boundaries of state supervision regarding the activities of #naturalmonopolies.
We are confident that the provisions delineated in the Code will be highly consequential in promoting circumstances that ensure fair access to the goods and services offered by natural monopolies for both #enterprises and #consumers.
#CompetitionGovAz
The regulatory methods concerning the behaviors of natural monopoly subjects, which may negatively impact customers' legal interests and the provision of #consumerrights as outlined in the #CompetitionCode, will enhance the efficiency of applications handled by the State Service for Antimonopoly and Consumer Market Control (@antiinhisar).
In 2023, within the framework of control measures over the activities of natural #monopoly subjects, 30% of the 735 consumer applications considered were addressed.
As a result, up to 105 thousand manats were refunded to consumers and annulled due to being incorrectly calculated.
#CompetitionGovAz
We held a meeting with the leadership and members of the National Confederation of Entrepreneurs (Employers) Organizations of the Republic of Azerbaijan (ASK). We discussed the #CompetitionCode, which is aimed at fostering the development of the #business environment, addressing the fundamentals of combating monopolistic and unfair competitive practices, and incorporating new approaches to regulating #economic concentrations and natural monopoly subjects.
During the meeting, we discussed measures aimed at preserving and implementing #competition regulations that enhance the effectiveness of economic regulations. We emphasized the significance of evaluating situations that restrict competition through new and innovative tools. Furthermore, we discussed the role of business associations in the development of entrepreneurship and underscored the necessity of public-private partnerships.
#CompetitionGovAz #ASK
In today's Milli Majlis plenary session, the draft law “On the Approval of the Competition Code of the Republic of Azerbaijan” was adopted in its third reading.
The #CompetitionCode approved by this law will create extensive opportunities for business entities, fostering effective operations, protecting a just and free competitive environment, ensuring consumer satisfaction, and significantly contributing to enhanced competitiveness in the national economy.
This will enable effective opposition to actions contrary to competition legislation by market entities as a whole and prompt assessment of the impact of regulatory activities on competition.
#CompetitionGovAz
On October 20, the draft law “On approval of the #CompetitionCode of the Republic of Azerbaijan” was discussed at the plenary session of the Milli Majlis (@Milli_Majlis) and adopted in the second reading.
#CompetitionGovAz
The draft law on "Adoption of the #CompetitionCode" was subject to further discussion at the meeting of the Committee for Economic Policy, Industries, and Entrepreneurship of the Milli Majlis.
#CompetitionGovAz
On October 2, the plenary session of the Milli Majlis discussed and approved the draft law on "Adoption of the #CompetitionCode” in the first reading.
#CompetitionGovAz
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