MILOSAVLJEVIĆ: Law on protection of competition in May

The Minister of Trade and Services of Serbia, Slobodan Milosavljević, said yesterday (April 15, 2009) that he expected that the Parliament of Serbia would adopt the new law on protection of competition at the beginning of May.

He said on the occasion of the Competition Day that the new law would improve the authority of the Commission and enhance the quality of work. The President of the Commission for Protection of Competition, Dijana Marković-Bajalović, said that the new law would repair the framework for protection of competition in Serbia because it would entrust the Commission with the greatest authorizations.

- It is also necessary that the Parliament adopts sublegal acts and, thus, provides institutional support to the Commission – said she and added that the Commission would be able to fine the offenders up to 10% of total annual revenue of the market participants.

The Head of the politicaland information sector of the European Commission in Serbia, Thomas Njoki, said that the significance of competition had not been recognized in Serbia until recently.

- The new law represents an important step forward because it will give a greater and mor important role to the Commission – said Njoki and added that application of the law had been the precondition for economic efficiency and competitiveness.