The Role of Competition & Competition Policy in Times of Economic Crisis

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The International Competition Network (ICN) Steering Group issued a statement addressing the role of competition and competition policy in the contemporary crises which are disrupting economies around the world. The ICN Steering Group statement reaffirms the relevance of competition. It recognizes that in times of crises, competition can become less of a priority for governments, and highlights why competition, competition policy, and competition enforcement should be part of any solution. It urges governments to support and maintain competition as they respond to the economic crises and encourages competition agencies to actively enforce competition laws which are considered flexible enough to take into account market realities even under extraordinary circumstances. The ICN also held a “Competition, Growth and Recovery Workshop” on 25 October 2022 hosted by ICN Vice Chair Margarida Matos Rosa, President of the Portuguese AdC.