BAKU, Azerbaijan, March 27. Azerbaijan and Hungary have signed a memorandum of understanding in the field of competition, Trend reports.
According to the State Service for Antimonopoly and Control Over Consumer Market under the Ministry of Economy of Azerbaijan, the memorandum between the State Service and the Hungarian antimonopoly agency includes interagency exchange of experience in the direction of competition development, development of competition policy, analysis of legal violations and other issues.
The memorandum was signed during the visit of the State Service delegation to Hungary. The document was signed by the head of the State Service Mammad Abbasbeyli and the head of the Hungarian antimonopoly agency Csaba Balázs Rigó.
The importance of strengthening bilateral ties to study the best practices in the field of competition development was emphasized during the meeting. The sides discussed the directions of the State Service's activities, the Competition Code, which will come into force on July 1 this year, as well as the regulatory policy and control tools of the competition authority according to the Code.
The State Service for Antimonopoly and Control Over Consumer Market plays a key role in formulating and executing state policies related to antimonopoly measures, public procurement, technical regulation, standardization, metrology, and consumer protection. Its primary objective is to foster an environment of fair competition and robust entrepreneurship, thereby promoting the sustainable growth of the national economy.
The State Service for Antimonopoly and Consumer Market Regulation was founded through a presidential decree issued on October 23, 2019, in the Republic of Azerbaijan.
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