Elnur Baghirov: Rise of transnational corporations changing approaches to competition policy

The growing influence of digital platforms and international corporations necessitates the development of new approaches to competition policy.

According to a Report correspondent in Azerbaijan's Shusha, Elnur Baghirov, chairman of the Antimonopoly and Consumer Market Control State Agency, made the remark at the 3rd Meeting of the Heads of Competition Authorities of the Organization of Turkic States (OTS) and the Competition Forum.

According to the agency's head, in today's environment, multi-layered relationships are emerging between large enterprises, digital platforms, and transnational corporations, making it particularly important to improve the legal framework for protecting the competitive environment.

"The activities of competition authorities, the exchange of information between these bodies, and market monitoring are particularly important. While transnational corporations offer significant advantages in terms of investment, technology transfer, management expertise, and access to global markets, their activities in domestic markets can pose certain competitive threats to new and local companies. As competition authorities, we should also consider protecting the interests of domestic market participants. In this context, deepening cooperation between the competition authorities of the Organization of Turkic States is essential," he noted.