Yerevan/Mediamax/. OSCE Yerevan office and the Committee for the Protection of Economic Competition (CPEC) of Armenia signed memorandum of mutual understanding today.

Mediamax reports that on the basis of this memorandum they plan to implement a number of measures, contributing to formation of the culture of competition in Armenia.

CPEC Chairman Artak Shaboyan said that given OSCE’s assistance, they plan to develop standards and rules of competition, procedures for assessment, meeting international standards.

Artak Shaboyan stressed that the Committee aims at visiting regions of the Republic, where it will hold different events, aimed at increasing public awareness on competition rules. Within the framework of this cooperation, it is also planned to toughen punitive actions towards the companies, implementing unfair competition, at a legislative level.

OSCE Yerevan Office Head, Ambassador Sergey Kapinos stated in his turn that toughening of monopoly preventive policy contributes to small and medium businesses’ development, as well as establishes firm bases for stable social-economic development of the country.