Competition law: achievements and challenges
António Ferreira GOMES1
I would first like to thank Católica Porto Law School for the kind invitation to participate in the opening session of this Conference and to congratulate its organizers for the excellent program.
This Conference is a testament to the growing awareness regarding the importance of competition among the legal community. Competition generates benefits for everyone – consumers, businesses, government and the overall economy – and should be seen as an engine of economic growth. Competition is vital to ensure a dynamic, competitive and robust economy by promoting and rewarding merit.
When competition is eliminated or restricted, companies lose incentives to innovate and to reduce costs, becoming less efficient. This is harmful to consumers, but also to the companies themselves, as they become less prepared to face new challenges.
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