YEREVAN. – Armenia’s law that regulates the competition sector in the country will be reviewed.  

The government on Thursday approved the proposals to make amendments in several corresponding laws.

According to the Armenian State Commission for the Protection of Economic Competition (ASCPEC) explanation which is submitted to the government, the law on competition will be amended to meet European Union (EU) standards.   

At the Cabinet meeting, ASCPEC Chairman Artak Shaboyan stated that more effective mechanisms will be introduced to levy fines, and the amount of the fines is being joined.    

In addition, a sanction mitigation plan will be implemented.

Shaboyan also noted that provisions have been added to combat against unfair competition through the use of trademarks.