A New Era in Digital Markets: The Competition Authori's The Competition Authority's 2024-2028 Strategic Plan Published 11 November 2024
The Competition Authority ("the Authority") has published its 2024-2028 Strategic Plan ("the Strategic Plan") with the aim of adapting to the rapidly evolving dynamics of digital markets and maintaining a competitive economic order. Developed in light of recent shifts in the global competitive environment, the Strategic Plan focuses on new regulations in digital markets and emerging technologies. The Authority aims to ensure fair and competitive markets through this plan, with a clear focus on enhancing consumer welfare.
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Digital Transformation and Regulatory Updates in Legislative Analysis |
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A key component of the Strategic Plan is the legislative analysis, which highlights the necessity for the Authority to align with regulatory requirements in digital markets. In this context, updating competition legislation to meet the demands of digital transformation is emphasized. The current version of Article 6 of Law No. 4054, which deals with abuse of dominance, does not adequately address the need for specific assessments related to digital markets. Therefore, legislative amendments and new definitions are needed specifically for digital markets. |
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Impacts on Competition Law |
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The findings from the legislative analysis contribute to more effective implementation of competition law. The proposed updates specific to digital markets are expected to enable the Authority to intervene more rapidly and effectively in cases of anti-competitive behavior, thereby enhancing the functionality of competition law. These measures are anticipated to contribute to a more robust competitive environment in market regulations aimed at protecting consumer rights. |
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Conclusion |
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The Strategic Plan underscores its commitment to adapting to the digital age and laying the foundations for sustainable competition in the markets. Furthermore, the Authority's alignment with high-level policy documents including the Twelfth Development Plan (2024-2028) and the Medium-Term Program (2024-2026) is crucial for facilitating a globally synchronized transformation and enacting necessary legislative updates to support digital transformation. |
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You can access the full Strategic Plan here. |
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