As reported, the State Service for Antimonopoly and Consumer Market Control under the Ministry of Economy has prepared a new draft of the Competition Code based on international experience. The draft code was submitted to the Cabinet of Ministers by the Ministry of Economy with the positive opinion of relevant government bodies.

The project, designed to improve competition law and ensure the efficient and unhindered operation of market participants, defines the competition authority and its status, the rights and obligations of market participants in the field of competition, agreements and actions restricting competition, as well as criteria for geographical distribution of market shares. The draft also provides a detailed explanation of market dominance and abuse of power, unfair competition and its forms.