Competition Law at Turkmenistan
Here is an overview of Competition Law in Turkmenistan:
🏛️ Competition Law in Turkmenistan
Turkmenistan, a Central Asian country with a largely state-controlled economy, has made formal moves toward establishing a competition framework, though in practice, the enforcement of competition law remains limited and underdeveloped.
📜 Legal Framework
1. Law on Competition (Amended in 2016)
Turkmenistan adopted its Law on Competition in 2008, with a major update in 2016.
The law is intended to:
Prevent monopolistic activity.
Promote fair competition.
Prohibit unfair commercial practices.
The law applies to both public and private entities, as well as foreign investors operating in Turkmenistan.
2. Ministry of Trade and Foreign Economic Relations
There is no independent competition authority.
Competition-related oversight is generally handled by state ministries, particularly the Ministry of Trade and Foreign Economic Relations.
🚫 Key Provisions
Prohibited Agreements: Collusion or coordination that restricts competition (e.g. price-fixing or market division) is prohibited.
Abuse of Dominant Position: The law restricts abuse by firms or entities with dominant market power, though enforcement mechanisms are unclear.
Unfair Competition: Practices such as misleading advertising or discrediting competitors are also banned.
⚖️ Enforcement Challenges
Weak Institutional Capacity: There is limited transparency and institutional capability to enforce competition laws effectively.
State Dominance: The Turkmen economy is heavily dominated by state-owned enterprises, limiting genuine competition.
Limited Judicial Oversight: There is little record of competition-related legal disputes or penalties being publicly reported or resolved in courts.
🌍 International Context
Turkmenistan is not a member of the World Trade Organization (WTO), which may also limit external pressure to enforce competition norms.
International organizations, such as the United Nations Conference on Trade and Development (UNCTAD), have provided guidance on competition policy reform, but practical adoption has been slow.
📌 Summary
Turkmenistan has a formal competition law, but enforcement is minimal.
State control of key industries and limited institutional independence hinder effective competition.
Economic liberalization and institutional development would be needed for the competition law to function as intended.
RELATED Blog
0 comments