TASHKENT, Uzbekistan, January 20. The Central Bank of Uzbekistan and the Uzbek Competition Development and Consumer Protection Committee have signed a memo to strengthen price stability, competition, and consumer protection, Trend reports via the bank.
The document underscores the critical need for strengthened institutional coordination to mitigate inflation, sustain price stability, and cultivate a competitive environment within goods and services markets.
The memorandum advocates for the establishment of a robust exchange of information, designed to facilitate evidence-based market analysis, curb unjustified price hikes, address abuses of market dominance, and improve pricing transparency across various sectors. Additionally, it outlines coordinated efforts to evaluate supply-side factors influencing consumer markets and proactively identify potential risks.
Within the scope of the agreement, the parties have pinpointed key cooperation areas, such as enhancing institutional collaboration to uphold price stability, promoting equitable competition in goods and services markets, and creating a functional information-sharing system to detect monopolistic practices impacting pricing dynamics.
Furthermore, the memorandum includes provisions for joint efforts in assessing market concentration levels, analyzing sector-specific participants, and identifying instances of monopoly or market dominance. It also outlines the exchange of perspectives on draft regulations intended to safeguard consumer rights in financial markets.