WORLD COMPETITION DAY FOCUSED ON COMPETITION BENEFITS

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On December 5 the Lithuanian Competition Council joined the rest of the world to celebrate the World Competition Day and reminded the society that #CompetingIsHealthy, #CompetingIsWorthwhile, #CompetingIsBeneficial.

December 5 marks the day when 37 years ago the United Nations adopted a set of rules and principles which later guided other countries in developing and enacting their competition laws.

In 2010 the International Competition Network proposed competition agencies and other institutions to mark the World Competition Day by increasing public awareness of competition benefits and anti-competitive conduct by businesses and public administrative bodies through various campaigns and initiatives.

Since the theme selected for this year’s World Competition Day was competition law and policy in the age of digital disruption, the Competition Council celebrated the day by engaging into an open dialogue with the bypassers in Vilnius and giving them apples to remind how fair competition benefits both business and consumers.

“Technologies and innovations are shaping usual business models, which national competition authorities have to take into account when ensuring effective competition for the benefit of consumers”, – said Jūratė Šovienė, the Council’s Deputy Chairman.

She noted that although competition encourages some market players to create great technological products and become market leaders, these companies should not forget the responsibility not to misuse their powers. Unfortunately, the most recent EUR 2.42 billion fine which the European Commission imposed on Google for competition law breach has shown that sometimes things might go different.