Minister: For healthy competition, important to have at least 2 major players in market

One of the key challenges in markets like Azerbaijan is the need to diversify the economy and introduce new products and services, Economy Minister Mikayil Jabbarov said at the 2nd National Competition Forum in Baku, Report informs.

He stated that if there is only one manufacturer of a product or service in the market, this doesn't contribute to the development of healthy competition.

"It is important to have at least two major players. However, to create a healthy competitive environment, this number must be higher. Our goal is to stimulate the production of new products and services that are currently absent from the economy and introduce them to the market," he noted.

Jabbarov added that the main issue in this area relates to how to regulate these markets and protect consumer interests: "All of these challenges are important tasks facing competition policy and state regulatory bodies."