Acting President of the National Bank of Georgia Natia Turnava and Chairman of the Georgian Competition and Consumer Agency Irakli Lekvinadze signed a memorandum of cooperation to strengthen cooperation in the field of competition and consumer rights protection.

"It is significant that today the updated memorandum was signed between the National Bank of Georgia and the Georgian Competition and Consumer Agency, which envisages cooperation between the agencies both in the direction of competition policy and consumer rights protection. The memorandum between our agencies has been in effect since 2018, although it provided for cooperation only in the competition policy part. In addition, according to the recommendation of the experts of the World Bank and the International Monetary Fund, it is appropriate to move to a new stage of cooperation, since taking into account the important results achieved by the current memorandum, the need for even closer coordination between the agencies is on the agenda. Thus, the updated memorandum envisages more flexible and effective cooperation mechanisms both in the protection of consumer rights and in the enforcement of competition policy, and we believe that it will further promote effective cooperation in both directions," - Natia Turnava said.

By signing the memorandum, the heads of the agency expressed readiness for close cooperation in the direction of prevention of violations, restoration of violated rights of consumers, creation of a healthy competitive environment and raising of the public awareness.