Azerbaijan, Hungary sign MoU to promote competition in various fields

A Memorandum of Understanding was signed between the Antimonopoly and Consumer Market Control State Service under the Ministry of Economy of Azerbaijan and the Hungarian Competition Authority, Azernews reports.

A bilateral meeting was held with the Hungarian Competition Authority as part of the visit of the Azerbaijani agency's delegation to Hungary. During the meeting, opportunities for mutual cooperation and the exchange of experiences between the institutions were discussed.

The importance of strengthening bilateral relations in the study of best practices in the field of competition development was emphasised.

Also, the directions of activity of the State Service, the Competition Code, which will come into force on July 1 of this year, and the regulation policy and control tools of the competition body according to the Code were discussed.

In the end, a Memorandum of Understanding was signed between the parties. The document was signed by the head of the State Service, Mammad Abbasbeyli, and the head of the Hungarian Competition Authority, Ksaba Balash Rigo.

According to the memorandum, the parties will exchange experience in the direction of promotion of competition, development of strategies, development of legislation and competition policy in the relevant field, as well as analysis of violations of law.