law

The main objective of the Union competition rules is to ensure the proper functioning of the internal market. Effective competition allows businesses to compete on an equal footing in all Member States, while putting pressure on them to constantly strive to offer consumers the best products at the best possible price, which, in turn, guides the innovation and long-term economic growth. Competition policy is therefore a key tool for achieving a free and dynamic internal market, as well as for developing common economic well-being. EU competition policy also applies to third country firms operating in the internal market. Social, economic, geopolitical and technological changes constantly pose new challenges to EU competition policy. These developments force policymakers to evaluate existing competition policy tools to determine whether they are still effective in achieving the primary objective of competition policy or whether adjustments are needed. This process will form an important part of the work of the new European Commission, which took over its functions in December 2019. In particular, the Commission has undertaken the ambitious task of developing a new strategy and carrying out the review of the rules on antitrust, mergers and state aid.