Fair competition – benefits to society and business

03 October 2013, Last updated at, 11:27 EET
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D. Grybauskaitė and J. Almunia | author: Dž. G. Barysaitė

Thursday, October 3, Vilnius - President Dalia Grybauskaitė opened a European Competition Day conference. It is an event of the Lithuanian Presidency of the EU Council bringing together representatives of competition authorities, international organizations, business and academic communities. The list of participants includes the Vice-President of the European Commission and Commissioner for Competition, Joaquín Almunia, representatives from Microsoft Corporation, heads of competition authorities from Belgium, the Netherlands, France, Sweden, as well as competition law practitioners and academics.

"European Union is proud of its market of 500 million people, high-quality products and services, innovation, and the huge human potential. Fair competition benefits consumers and businesses both in Lithuania and across Europe. Competition promotes progress, better quality of goods and services, and lower prices," the President said.

In her welcome address, the President called attention to high energy prices which could only be reduced by greater competition in the energy sector. High energy prices block the EU's competitiveness and economic growth.

The President underlined that it was important for Lithuania to maintain competition and limit abuse of monopoly power. It is also crucial to ensure high professional level and independence of supervisory authorities.

According to the President, joint efforts by all EU member states are needed to prevent unfair competition. Every business, whatever its size, operating in the European Union must be guaranteed equal conditions to compete and must abide by the common European rules.

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