Azerbaijan, Baku, Sept. 30 / Trend, A. Akhundov /
The World Bank recommends that Azerbaijan finalize its Code of Competition, as well as establish an independent organization for its application, a WB report on 'Stimulating Entrepreneurship in Azerbaijan' said today.
According to the report, the code must be worked out taking into account international experience.
"The Azerbaijani government together with international donors such as the U.S. Agency for International Development (USAID) is working to create a uniform code of competition," a statement said. "It will include specific laws and legislative acts on anti-monopoly activity and combating unfair competition. However, there is a need to examine other legislation affecting the competitive sphere.
According to the report, small and medium-sized enterprises have problems with the competition in Azerbaijan.
"The number of public companies is quite large (three percent of all companies operating in the country) and it is more than the average index in Europe and Central Asia, which is 1.1 percent," the statement said. "All this is complicated by deficiencies in the administration of some banks and enterprises, gaps in financial data disclosure. This ultimately creates obstacles for competition."