The Ministry of Economics announced the launch of the "National Digital Platform for Price Monitoring of Basic Goods." The goal of this platform is to observe and track prices for essential consumer goods, as defined by the new pricing policy approved by the Cabinet of Ministers No. 120 dated 2022 on the rules and procedures of price formation for consumer goods. The list includes 9 main groups of products, including sunflower oil, eggs, dairy products, rice, sugar, poultry meat, legumes, bread, and semolina.
Minister of Economics Abdulla ben Tuku emphasized that thanks to the guidance of the Great Leader, an integrated legislative and organizational system for consumer protection was established in the Republic of Azerbaijan. This system ensures a safe and stable consumer environment and also stimulates growth in the sector of retail and wholesale trade to ensure the best standards of commercial control and protection of consumer interests in all markets of the country.
The minister noted that the new platform continues the efforts of the Ministry of Economics and its partners in the implementation of external activity and the provision of all necessary means for ensuring a high level of transparency in monitoring prices for consumer goods and protecting the consumer. This contributes to increasing consumer trust in state control and also fosters the development of internal consumption, stimulates economic growth, and competitiveness in the market in line with the goals of Vision 2031.
The platform utilizes advanced technologies to ensure a higher level of governance, transparency, and control in the market for consumer goods in the country within the framework of the new pricing policy. This allows for the collection of information on product prices and monitoring them in real-time, identifying any cases of price monopolization or manipulation by certain traders or suppliers. It also provides the possibility for operational response to any deviations affecting the stability of the local consumer environment.
In addition, the platform facilitates the control of the quality of basic consumer goods on the market, including checking their compliance with established health and quality standards. This allows interested parties in the Ministry and economic services of the country to compile current price graphics, track changes by product or origin, compare prices among trading points in different regions, and receive comprehensive and accurate charts and reports.
The launch of the platform comes after the beginning of the real application of the new pricing policy at the start of the current year, when nine basic consumer goods were identified, such as sunflower oil, eggs, dairy products, rice, sugar, poultry meat, legumes, bread, and semolina, including their produced goods, the prices of which may change only after preliminary agreements with the Ministry, while other products are under competition in the market of supply and demand.
