Azerbaijan discloses fines on breaching law by market subjects

In 2023, consideration of 48 cases on signs of unfair competition was completed in Azerbaijan, and financial sanctions of up to 650 thousand manats were applied to 24 market subjects who violated the law, Azernews reports.

Mammad Abbasbeyli, the head of the Antimonopoly and Consumer Markets Control State Service under the Ministry of Economy, said this at a press conference on the results of last year.

He said that last year, 26 business entities voluntarily eliminated violations of the law.

"Furthermore, from January 1 of this year, the new law on state procurement will enter into force; thereby, significant steps have been taken towards finalising the transition to electronic procurement. As a result of electronic procurement, public procurement will be more accessible to entrepreneurs and will promote competition in the relevant field."

M. Abbasbeyli added that the number of total purchases in 2023 was more than 7.5 billion manats.

"In the reporting period, the share of electronic purchases in total purchases was 22.4%. Compared to 2022, the volume of electronic purchases last year increased by 32.9%."