Read publication

On 28 April 2016, the President of the Republic of Azerbaijan signed the Laws on Amendment to the Law on Antimonopoly Activity and on Amendment to the Criminal Code.

The amendments have introduced the concept of cartel agreements into Azerbaijan’s antimonopoly legislation. A cartel agreement is now understood as "a voluntary combination of two or more financially and legally independent businesses competing in the same market to exclude others or prevent new competitors from entering the market by dividing territories, sales volumes, types of goods or customers, or by refusing to purchase or sell goods (services)". Increasing or decreasing prices, maintaining prices at the same level, implementing privileges, rebates or bonuses, or other methods of restraining competition are also included in the definition of a cartel agreement.
Explore More Insight