COMPETITION COUNCIL – AMONG WORLD‘S LEADING COMPETITION AUTHORITIES
Lithuanian Competition Council‘s work is both, beneficial and visible, says antitrust and competition law journal and news service Global Competition Review (GCR). Having summarised all the data gathered from the interviews with competition law practitioners and the questionnaires/surveys filled by national competition authorities and local competition counsels, GCR experts awarded Lithuanian Competition Council three stars out of five. GCR highlighted the significant progress made by the Council - the authority became more active, brought bold cases and effectively advocated competition. While the Council has been placed among the world‘s leading competition authorities several times before, the ranking for 2014 is the highest ever received.
“Even though our budget is one of the smallest in the world, we rank as highly as Israel, Canadian, Swedish and Swiss competition authorities. This signifies high level of expertise brought by our employees. We work hard to achieve our mission which is safeguarding competition for the benefit of consumers. The results of the Council’s impact assessment have shown that every €1 put in our operations has brought a sevenfold direct financial benefit to consumers.” – says Šarūnas Keserauskas, the Chairman of the Council.
According to GCR data, Lithuanian Competition Council takes less than other competition authorities to bring a cartel case. The institution is also one of the continent’s great advocates for competition principles.