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A:
Committee for Protection of Competition to get more authorisation
Belgrade,
11 April 2008
Serbian Minister of Trade and Services Predrag Bubalo announced today that the Committee for the Protection of Competition will be given much wider authority when it comes to the adoption of amendments to relevant laws, which is in accordance with EU regulations.
At the beginning of the marking of World Competition Day, Bubalo said that thanks to the Bill on amendments to the Law on the protection of competition, the Committee will be authorised to charge fees and demand a reduction in the concentration independently, as well as to reduce the fee for those who report a cartel agreement.
According to him, amendments to this law imply an increase in the threshold for determining the concentration from €10 million to €20 million per every participant in the concentration.
He also announced that tomorrow in Brussels, the amendments to the Law on the protection of competition and the Law on consumer protection will be submitted to the EU for contemplation and which should be adopted after the formation of the new Serbian government.
The protection of competition is a precondition for the creation of a market economy because the market is thus open to new participants and innovations, which leads to an increase in employment and the competitiveness of domestic companies. Naturally, it also implies the protection of consumers, added the Minister.
Bubalo noted that this kind of protection is also necessary because of the EU integration process and warned that imposing limits on competition jeopardises the country’s economic development.
According to him, amendments to this law imply an increase in the threshold for determining the concentration from €10 million to €20 million per every participant in the concentration.
He also announced that tomorrow in Brussels, the amendments to the Law on the protection of competition and the Law on consumer protection will be submitted to the EU for contemplation and which should be adopted after the formation of the new Serbian government.
The protection of competition is a precondition for the creation of a market economy because the market is thus open to new participants and innovations, which leads to an increase in employment and the competitiveness of domestic companies. Naturally, it also implies the protection of consumers, added the Minister.
Bubalo noted that this kind of protection is also necessary because of the EU integration process and warned that imposing limits on competition jeopardises the country’s economic development.
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