Lithuania is making the transition from to a developed market-economy capitalism but it is creating negative side- effects, said Robertas Dargis, president of the Lithuanian Confederation of Industrialists.
© DELFI / Orestas Gurevičius

“The competition that there should be in the food sector, which would solve the pricing problem, isn't there. Why not? That's another question. In Western nations, the sale of food in smaller stores is much more developed than it is in Lithuania. At one time, we probably failed to control the situation, and large retail centres started to appear in cities. They are like nuclear bombs that destroy small businesses around them,” said Dargis.

He also said there was a growing need for strong consumer representative groups.

“In Lithuania, we do not have any developed consumers associations. If they existed and represented consumers' interests, I think that consumer satisfaction would be very different today.

"If we had a harmoniously working system in which it would be in every consumer's interest to be a member of such an association, I think that consumers would be defended much better. We would no longer need any distractions like these, where suddenly, someone's not happy about the prices so the government holds a meeting to decide if those prices are appropriate,” Dargis said on Žinių Radijas' Question of the Day segment.

Executives of two dairies slapped with fines for market abuses

The board of the Bank of Lithuania has imposed a fine of 200,000 euros on Linas Strelis, a member of...

Telecoms operators watching situation regarding Huawei

Following Google 's announcement that it has severed relations with Huawei , seen by Washington as a...

Swedbank's pension funds invest EUR 200 mln into sustainable business

Pension funds managed by the Swedbank financial group are investing 200 million euros, or a sixth...

Belarus complains: Lithuania's blocking Minsk-EU agreement

Belarusian representatives complained in Brussels last week that Lithuania is blocking the...

New trends in startup world: unicorns' aspiration is not key anymore

The question when the first unicorn with over 1 billion of US dollars in value will appear in the...