Parliamentary Price Regulation Committee recommends that a draft law be developed within the framework of the EU Unfair Trading Practices Directive, to create an institutional framework for relations between companies

There is a directive on unfair trading practices, which is an EU directive - within the framework of the directive, a relevant draft law should be submitted to the Parliament, the Parliament should work and create an institutional framework among the companies playing in this sector - Shota Berekashvili, the head of the parliamentary commission on price regulation, stated at the commission's session, while presenting his conclusion.

According to him, what has been done incorrectly for years cannot be corrected in a day and "correcting it in a day is dangerous."

“There is a directive on unfair trading practices, which is an EU directive, and within the framework of this directive, a number of similar changes have been introduced structurally, in order to correct the asymmetry of relations that exist between market players and make trade relations fair, transparent and effective. Our recommendation is that within the framework of this directive, a relevant bill should be introduced to the Parliament, the Parliament should work and create an institutional framework between the companies playing in this sector. This is a medium-term period. The sector is very large, it constitutes 21% of our economy, and any aggressive type of intervention creates systemic risks. Systemic risks will then affect the economy. The approach here should be very specific and detailed. It is precisely in the part of the Unfair Trading Practices Directive that this document should be processed at the legislative level. Processing the document will probably take some time, this is our recommendation. However, there will be an implementation period. What has been done incorrectly for years cannot be corrected in one day, and correcting it in one day is dangerous. Because the sector may receive a shock blow and as a result we will not get a price reduction, but shock prices in the market, which is related to systemic risks and aggressive intervention on our part is not recommended. In my opinion, this may be completed within 6-9 months and the system will recover,” said Shota Berekashvili.

Touring Georgia with young Georgians as Partners