Tashkent, Uzbekistan (UzDaily.com) -- Senators considered the Law "On competition" at the thirty-seventh plenary session of the Senate.

The present law was elaborated to ensure free movement of goods in the territory of the Republic of Uzbekistan, protect competitive environment, create conditions for effective work of commodity, financial and digital markets. It should be noted that it unified the Competition Law adopted in 2012 and the Law on Natural Monopolies adopted in 1999. It unifies most of the requirements for natural monopolies and entities holding a dominant position.

The Law defines the priority directions of the state policy in the field of competition, i.e., protection of competition, prevention and suppression of anti-competitive actions, ensuring freedom of economic activity and free movement of goods on the territory of the Republic, and creating conditions for the effective functioning of commodity and financial markets.

In addition, the Law introduces a number of new concepts, such as anti-monopoly compliance and a digital platform.

The Law introduces new criteria for determining a dominant position, according to which natural monopoly entities are included in the number of entities holding a dominant position.

At the same time, the Law introduces the institution of superior bargaining power. This provision establishes that superior bargaining power is the ability of an economic entity or group of entities without a dominant position to unilaterally influence the terms and conditions of a transaction, the territory and the selling price of goods.

In order to ensure a healthy competitive environment among business entities, the Law introduces a system for assessing the impact of state aid on competition, which may have a negative impact on the competitive environment.

The Law establishes anti-competitive requirements and bans on the simultaneous participation of related bidders in the bidding process.

Administrative liability for violation of the competition law is also strengthened.

According to the senators, the adoption of this law creates a legal basis to reduce anti-competitive actions, freedom of economic activity, free movement of goods, development of competitive environment, effective functioning of commodity and digital markets, reducing state involvement in the economy.

The law was approved by the senators.