Tashkent, Uzbekistan (UzDaily.com) -- On 15 March, an opening ceremony of the Center for Research on Competition Policy and Consumer Rights under the Committee for the Development of Competition and Protection of Consumer Rights was held in the capital.

The main goal of the center’s activities is to systematically analyze the state of the competitive environment in commodity and financial markets, including identifying barriers to entry into markets for new participants, assessing the impact of existing privileges and exclusive rights on competition, identifying market participants occupying a dominant position, regulating monopolies and developing competitive environment, determining the degree of market saturation with products produced in the republic, developing strategic programs to protect consumer rights and improve the advertising market, as well as regulating the spheres of natural monopolies, as well as strengthening the role of the subject of economics in solving other pressing problems at the present stage of the country’s economic reform.

The ceremony was opened by Deputy Chairman of the Competition Committee Asadulla Kayumov.

Also at the opening of the Center building, a Memorandum of Cooperation was signed with the German organization Sparkassenstiftung.

The memorandum aims to strengthen components such as financial education, consumer protection and responsible offering of financial services.

The parties intend to cooperate in the following main areas:

strengthening consumer protection in the financial sector;

analysis of consumer behavior and consumer policy in the field of financial services;

conducting joint lectures and training seminars on financial literacy and preparing educational materials for educational institutions.