The Government of Germany will continue assisting Armenia in carrying out its legal and economic reforms, German Ambassador to Armenia, Hans-Jochen Schmidt said during a seminar, being held in Aghveran village, which is devoted to unfair economic competition. The seminar is being held in cooperation with the German Society for Technical Cooperation (GTZ). The Ambassador specifically underscored the need to develop Armenia's competitive environment, and, with the German example, he demonstrated how competition stimulates economic growth. "Fortunately, Germany was defeated in World War II, and, on the instruction of the Allied Forces, it had to transform its economic makeup. And this means the cartels and the monopolistic structures disintegrated," Ambassador Schmidt noted. And thus prerequisites were created for the development of small and medium business; and many small businesses later became internationally recognized companies. Armenian State Commission for the Protection of Economic Competition Chairman Artak Shaboyan thanked the German ambassador for his assistance, and noted that Armenia's legislation in the field of competition is similar to the German legislation in many aspects.

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