Azerbaijan, Baku, Sept. 23 / Trend , H.Valiyev /
A draft code 'On Competition' adopted by the Azerbaijani parliament in the second reading on Dec.25, 2007, will be tabled at the autumn session, Parliamentary Economic Policy Committee Chairman Ziyad Samadzade told journalists today.
"Serious work is being performed on this code. New criteria have been introduced into the draft code due to the global financial crisis. We intend to discuss them as very important issues and it should serve the national interest," Samadzade said.
He said a number of laws are applied in Azerbaijan in this sphere, including the law "On Antitrust Activity' and the law "On competition", but they are very old.
"Significant changes and processes have been observed over the past 15 years and all these, including taking into account international experience, will be reflected in the Code "On Competition," he added.
This document, he said, is aimed at curbing the monopoly existing in many sectors - banking, advertising, the stock market, and many others.
"The law will be aimed at the development of the free-market," Samadzade said.
The Code will reflect the interests of both consumers and producers. The draft Code has been updated due to changes in market conditions, accumulation of experience in antitrust activity and a long-term plan of development. For example, it was supplemented by a provision of cartel agreements during the second reading.