Salutary Effect of the Romanian Competition Council’s Annual Conference, October 30, 2024
As recently shown by BCG’s teams of experts (September 24, 2024), who looked at the Draghi Report used by the EU President Ursula von der Leyen, who has already used it decide the form of EU commissioners’ priorities, this report’s recommendations “takes a more unified approach to the sectoral reality and competitive advantages of the EU economy,” while the competitiveness-first (sector-by-sector) approach could designate a turning point in the industrial strategy theory and practice. Also recently, McKinsey’s senior partners, fellows and expert consultants (Bradley, C., Chui, M., Russell, K., Ellingrud, K., Birshan, M. and Chettih, S., October 23, 2024) focused on potential future arenas’ development (providing a solid foundation for growth and dynamism scenarios over the next decades) based on their understanding of today’s arenas.
Within this special context, the Annual Conference of the Romanian Competition Council (the event was hosted at the “Carol I” Central University Library of Bucharest, on October 30, 2024) had a particularly salutary effect, by enjoying a significant professional representation, and reconfirming the importance (for the correct valuation of professional practice) of delivering specific activity results to the agreed quality standards and deadlines. The launch of the new Romanian Competition Council’s Report on competition in key sectors – 2024 (https://www.consiliulconcurentei.ro/wp-content/uploads/2024/10/Raport-Sectoare-Cheie-2024-25-oct.pdf) was highly well attended, and showed a true focus on insurance of a functional market economy and real competition between economic operators so as to ensure that citizens benefit from the best goods and services at one fair value for money.
The conference was opened by Bogdan M. Chiriţoiu, the President of the Romanian Competition Council (RCC), who kept the distinguished audience engaged, getting it really interested at the confluence of these VUCA times and the increasing pressure of protecting the current competitive environment on the basis of continuously improving RCC’s expertise in ensuring the systematic implementation of reforms of the competition regime. He highlighted this year’s conference topics’ importance in this period full of challenges, considering the role that Romania can play in the EU economy and the directions of action for increasing the relevance of our national economy, in the context of the launch by the EC of the Draghi Report on competitiveness.
This year’s RCC report reconfirmed that success is coming only from really hard work on the path to both consumer welfare (promoted by well-functioning, competitive markets), choice (effective competition being facilitated by effective consumer choices) and fairness, one hand, and economic efficiency, efficacity (consumers being served by ensuring that markets remain competitive by encouraging new market entrants and creating incentives for innovation), freedom and plurality, on the other hand. Without doubt, RCC can and must continue to provide the necessary framework for continuing on the right path, and on building on delivering for consumers, its valuable activity being essential to make sure businesses and companies compete fairly with each other, and create a wider choice for consumers and help reduce prices and improve quality.