Competition is important social and economic tool, ACU head says

Competition is the most important impetus of economic performance and, as a consequence, the level of social welfare, head of the Antimonopoly Committee of Ukraine (ACU) Vasily Tsushko said during the opening of the III Competition Forum of Ukraine, ForUm correspondent reports.

According to the official, the state of competition determines the level of development of market relations in the country and is one of the most important public benefit.

 

"Development and improvement of legislation in the sphere of protection of competition, its practical application, the promotion of competition policy form public awareness of the importance of competition as one of the most effective tools for successful economic development, the key to high-quality products and services," the expert said.

He added that the establishment of the legal framework in the field of competition should be systemic. "An example of such a systematic approach is the National Program for the development of competition in Ukraine for 10 years, the preparation of which is carried out by the ACU according to the National Action Plan for 2012 to implement economic reforms in 2010-14," Tsushko said.