This week, our workshop examined the development of competition law from its establishment to present, the European Union (EU) practices and their formalization process in our country. The “Law on the Protection of Competition” numbered 4054 was enacted in 1994 as a consequence of the EU Chapters and founded the Competition Authority in 1997.
Some outstanding points in competition law are as follows:
- Competition policies and competition law may be alternatives to each other and may contradict one another. However, ideally, they are used to be complementary to one another.
- Competition law does not aim to protect small businesses, prevent dumping, protect branding or increase competition power, but to maximize consumer prosperity.
- Competition law does not protect the interests of any actor in the market. The law is a tool for protecting legal competition.
- Competition pushes companies to become more dynamic and allows the cost to be reduced by allowing the resources to be used more efficiently.
- State aids, unfair competition and protection of consumers are not covered by Law No. 4054.
- National competitiveness aids the emergence of new brands in the international arena.
You can examine the presentation below for more details on the “Law on the Protection of Competition” and the sample board decisions.