Azerbaijan creates control mechanism for granting subsidies

Azerbaijan has established a control mechanism for granting subsidies under the Competition Code, said Shamsi Rzaly, an employee of Azerbaijan State Service for Antimonopoly and Consumer Market Control under Economy Ministry, Report informs.

The official noted that the creation of the mechanism was carried out according to the new law.

The Competition Code of Azerbaijan entered into force on July 1, 2024. The new competition code consists of 12 chapters and 84 articles. According to legal observers, the code introduces new concepts and definitions such as relevant market, unfair trade practices, low monopoly price, barriers to entry, and concentration of economic subjects.