An Azerbaijani delegation led by Head of the Antimonopoly and Consumer Market Control State Service under Azerbaijan’s Ministry of Economy Mammad Abbasbayli has attended the establishment ceremony of the Competition Council of the Turkic States (OTS) held in Istanbul, Türkiye.

The ceremony brought together the representatives of the competition institutions of the OTS member states, including Türkiye, Azerbaijan, Kazakhstan, Kyrgyzstan, Hungary, Uzbekistan, Turkmenistan, and the Turkish Republic of Northern Cyprus.

The event was designed to set up the Competition Council of the Turkic States, providing an exchange of information between the relevant institutions of the member states within the council, addressing global challenges, improving the competition policy and law, as well as enhancing integration and regional cooperation among the member states.

The speakers at the event included Turkish Trade Minister Ömer Bolat, President of the Turkish Competition Authority Birol Küle and other officials.

Addressing the event, Head of Azerbaijan’s Antimonopoly and Consumer Market Control State Service Mammad Abbasbayli underscored the role of OTS in developing economic, cultural and political relations among its member states.

The event also saw the signing of a document on the establishment of the Competition Council of Turkic States.

The participants agreed to hold the Competition Forum under the Competition Council of Turkic States in Azerbaijan’s city of Shusha.

Mammad Abbasbayli also met with President of the Turkish Competition Authority Birol Küle. The meeting saw discussions on bilateral trade relations between the two brotherly countries, and highlighted the importance of healthy competition environment in implementing mutually beneficial investment projects.