New changes made to competition law

TIRANA, September 14 – The parliamentary Economy and Finance committee approved on Monday some changes to the competition protection law lowering the annual turnover of companies which the Competition Authority can audit.
Under the new changes, which are aimed at bringing the competition law under European Union standards, the Competition Authority can launch investigations into companies even when the annual turnover in the domestic market is 400 million lek (around 4 million dollars), down from 800 million under current law.
Parliament said on its website that changes are aimed at increasing advocacy and raising public awareness on the benefits of free and fair competition as well as improve legal and administrative procedures by state institutions.