CRISIS AND COMPETITION POLICY SYMPOSIUM

Minister for EU Affairs and Chief Negotiator Egemen Bagis delivered a speech in the symposium on "Crisis and Competition Policy" organized for the 12th anniversary of the establishment of the Competition Authority. He stated that while the measures against the current global stagnation are talked over, the issue of a better supervision of the finance and capital markets is also discussed intensely in the world.

Bagis stated that soon, this issue will again be the most important item of the agenda in the G-20 Summit, to which Turkey is also a member. He added that these rendered Turkey a party and the developments both in EU and in G-20 directly concern Turkey. Bagis emphasized that at that point, the role of supervisory and regulatory authorities like the Competition Authority gains more importance.

Bagis declared that the reforms foreseen in the EU full membership process should be regarded as the steps "strengthening the market economy based on competition" and enabling Turkey to be a global actor." He added: "Even the fact that there is only one chapter titled the conditions of the competition market, nearly every chapter we are working on and all the chapters we will work on will enable Turkey to keep up with the conditions of competition and will conduce to take important steps as we have ensured real competition with the EU Member States."

Bagis underlined that in the screening reports of the European Commission, Turkey was stated as a country ready for the competition in terms of its legislation. He thanked the Competition Authority which took an important role in these screening chapters.

Bagis stated: "In the last progress report of EU, it has been emphasized that the basis and endurance of the Turkish economy is stronger than it used to be a few years ago; and also it has been stated that the developments in Europe have a limited effect on the Turkish banking system."

Bagis continued as follows:

"Actually in Turkey we are passing through an important process concerning this issue. With the impact of the crisis the EU and some other countries have taken measures such as state aids, bank mergers, incentive payments, nationalisation of the banks or their transfer to the Fund. It should not be forgotten that these are temporary steps."

Repeating that the measures to be taken during the crisis would be temporary, Bagis said, the measures, in all cases, should be in compliance with competition principles which is the basis of market economy.

Stating that competition is permanent but crisis is temporary, Bagis said that although the all the world felt the impacts of the crisis, they would continue their reforms without making any concession on the EU process as a result of their respect for the right of the citizens to have higher life standards.

Indicating that these reforms would help Turkish economy have a stronger structure with all its production factors, Bagis said he believed that the Competition Authority had an important role at that point.

Stating that the Competition Authority, as the defender of competition principles, would support the development of policies and measures in compliance with competition principles, Bagis said: "Competition Authority is the guarantee of a system where the weak are not smashed by the powerful and reason and virtue is rewarded."

Bagis said that democracy was the most competitive system and continued:

"We believe in democracy, fortunately we have a democracy. When compared with the countries in the region we all see that our democratic institutions and regulations make Turkey the shining star of Eurasia.

In such a competitive environment we will be before the electors two weeks later. As the AK Party government, we hope that our democracy will grow stronger with this election and I believe in that. We are on the side of democracy, economic development, transparency and rule of law."

Resource: AA