Azerbaijan talks amount of sanctions imposed on violators of antimonopoly law

By Trend

Financial sanctions in the amount of more than 27.5 million manat ($16.2 million) were imposed on people for violating the Law on Antimonopoly Activity in 2020, Deputy Head of the State Service for Antimonopoly Policy and Consumer Market Control under the Azerbaijani Ministry of Economy Mammad Abbasbayli said.

Abbasbayli made the remark at the online briefing entitled "Results of 2020" of the State Service, Trend reports on Feb. 17.

“The sanctions out of this amount in connection with unfair competition amounted to more than 14,000 manat ($8,235) related to four cases,” the deputy head added. “The work is underway on five more cases of similar type.”

The deputy head stressed that to improve activity in this sphere, the working group of the State Service is developing a draft "Competition Code" in accordance with the most progressive world practice.

Abbasbayli added that, the State Service received about 359 applications in 2020, of which 21 applications related to the competition in the markets, including 63 applications on unfair competition of the market entities.