Shtip, 25 December 2024 (MIA) - The law banning unfair trade practices will officially enter into force on January 1, 2025, and it will regulate the relations between producers, distributors and vendors, said Deputy Minister of Economy and Labor, Marjan Risteski, on Wednesday.

In the longer term, the law would ensure greater regulation of prices of products in the interest of the consumers and citizens, according to Risteski.

“The composition of the Competition Protection Commission is being completed with five new members who were elected by the Parliament of the Republic of Macedonia. They will be the main controllers of all these contracts. We provided a monitoring period until January 1, during which we are following all developments,” Risteski said.

The Deputy Minister said the sanctions for those violating the law are significant, and vendors and other stakeholders who agree contracts should be cautious.

“The fines are somewhere around EUR 20.000, which isn’t low for unfair trade practices,” Risteski said. 

Photo: MIA