Azerbaijan, Baku, July 2 / Trend M. Aliyev /
Azerbaijan is ready to complete the process of adopting the draft code on competition at the autumn session adopted by the Parliament in second reading Dec. 25, 2007, chairman of the Parliamentary Committee on Economic Policy Ziyad Samadzade said.
"The global financial crisis, which occurs throughout the world, forced to reconsider this code. Since, even in developed countries, the crisis revealed gaps in the Code, Samadzade said. I am sure that the Code will be adopted at the autumn session," he said.
The adoption of the Code will accelerate the entry of Azerbaijan to the World Trade Organization, he said.
Delays in the adoption of the Code have been linked to changes in the structure of the Ministry of Economic Development, combining of the two departments and creation of the state service on anti-monopoly policy and consumers' right protection. New civil service began to work in 2010.
The Code defines the legal framework for ensuring free and fair competition and protection in the field of entrepreneurial activity, and regulates the relations existing in the commodity and financial markets.
Individuals, who have a monopoly position, have no right to unreasonably raise prices on their products (services) in the event of a deficit, and also hamper the ability to create a competitive environment.
The industries of natural monopolies include transportation of oil and oil products through pipelines, transportation services, natural gas supply, services for the production, transmission and supply of electricity and thermal energy, road maintenance equipment and maintenance of buildings, the management and traffic safety, railway stations, maintenance of main highways and roads of general importance, as well as other services.
The draft code was adopted by the parliament in first reading in the autumn of 2006.
The IMF mission conducted a review of Azerbaijan on Article IV from February 18 to March 3. It also recommended to the government to accelerate the adoption of the Code of the competition. According to the mission, the legislative framework (antitrust and investment) is necessary to achieve the objectives of the government to promote non-oil exports and entry into the World Trade Organization.