The Serbian Competition Commission and the Ministry of Trade, Tourism, and Telecommunications, as the official proposer, initiated the procedure to draft a new Law on Protection of Competition.

The Ministry of Trade, Tourism and Telecommunications formed the Working Group for the preparation of the new law, consisting of the relevant ministries, the Competition Commission and the representatives of the business community. The Competition Commission especially welcomed the participation of the legal and business community in preparation of the new law.

After the draft is finalised, the competent ministry will call upon all interested parties to submit their feedback and proposals for improvements in order to better harmonise the new Law with EU legislature as well as specific features of the Serbian market.

The President of the Competition Commission, Mr. Miloje Obradović, stated that the new Law is meant to improve the business atmosphere in Serbia, since it will help better protect market competition – which is the basis of a market economy, as well as final customers. The upcoming legislature will enable a more effective use of existing resources, better offer and higher quality products to consumers, as well as help the Commission in its role of supporting the country’s economic growth.

Karanović & Nikolić is proud to contribute to the new Law on Protection of Competition through the participation of our Partner Bojan Vučković, as the representative of the Foreign Investors Council in the Working Group for preparation of the new law.