Speaking at a seminar on problems of economic competition in Tsakhkadzor, German Ambassador to Armenia Hans-Jochen Schmidt stated that Armenia’s “punitive oligarchic” structures need to be destroyed.

Ambassador Schmidt is sure that, although difficult, it is vital for ensuring economic competition in Armenia, a NEWS.am correspondent reports. He cited Germany as an example. After World War II the British-American forces made Germany break up all the cartels, and the country’s industry began steadily developing.

To be able to break up this cartel system, the Commission for protection of Economic Competition needs assistance on the part of the Armenian Government and Parliament.

Ambassador Hans-Jochen Schmidt pointed out the need for strict measures against cartels to prevent abuse.