Regulatory legal act in the field of antitrust legislation approved

On August 7, 2019, the Government of the Kyrgyz Republic approved a new Procedure for conducting economic and statistical monitoring of business entities that occupy a dominant position in the commodity markets.

The draft document was developed and initiated by the International Business Council.

“The interaction between the business and the antitrust regulator has become more convenient and transparent. We are glad that all our suggestions to improve the Procedure have been fully taken into account,” said IBC Deputy Executive Director Daniyar Mederov.

Since 2017, the IBC Commission on dominant Issues has been working on the draft document that would streamline the activities of the antimonopoly regulator on economic and statistical monitoring in relation to business entities and would fully take into account the position of the business community.

The new Procedure excludes the possibility of the antimonopoly body unreasonably request information from business entities. In the case of sending requests, documentary confirmation is necessary that a request was made to the relevant government agency, but there is no information there.

In addition, the annual audit has been excluded from the concept of economic and statistical observation, and the process will be carried out in the monitoring procedure and on an ongoing basis.

We express our gratitude for the support to the Ministry of Economy of the Kyrgyz Republic, the State Agency for Antimonopoly Regulation under the Government of the Kyrgyz Republic, and the Business Development and Investment Council under the Government of the Kyrgyz Republic.

The text of the document attached.