Collusive tendering or bid rigging is an illegal activity by which bidders create the illusion of competition while secretly agreeing among themselves which of them will win the tender. By choosing the best price, the purchasers, who are frequently national and local governments, are forced to pay more than they would otherwise pay in conditions of fair competition. Bid rigging is one of the most severe competition law infringements which causes damage to taxpayers given that public procurement participates to a substantial extent in the economy of each country. It typically accounts for 12% of the gross domestic product, which […]
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Six months after the last summit in Tirana, high-ranking officials from Serbia, Albania, and North Macedonia gathered again in Ohrid as a part of the Open Balkans Initiative. This summit was also attended by the Commissioner for Neighborhood and Enlargement of the European Union, the Prime Minister of Montenegro, and the Chairman of the Council of Ministers of Bosnia and Herzegovina, indicating that the EU fully supports the Open Balkans Initiative, and signals that Bosnia and Herzegovina and Montenegro could soon become part of the Initiative. Summit in Ohrid was marked by further expansion of cooperation between Serbia, Albania, and […]
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Serbian Mining and Energy Minister Zorana Mihajlovic revealed last week an aggressive national climate and energy plan that aims to increase the share of renewable energy sources (RES) fivefold to 15% by 2030, reducing dependency on coal and take Serbia into carbon-neutrality by 2050, in line with EU targets. The EUR 35bn plan focuses on solar, wind and hydropower project and is set to mark a fundamental shift that should reshape its energy sector over the coming decades. She said the new energy and mining legislation that came into effect in 2021 is historic in its focus on RES and […]
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Building on our series of CBAM articles, we report shocking news from the EU Parliament. Members of the EU Parliament (“MEPs”) unexpectedly rejected a series of legislative proposals from the “Fit for 55” legislative package, including the EU Parliament’s negotiating position on the introduction of a Carbon Border Adjustment Mechanism (“CBAM”). Back in 2005, the EU established the EU Emissions Trading System (“ETS”) which has since become a cornerstone of the EU’s climate change policy and its most important tool for reducing greenhouse gas emissions. Since its inception, the ETS is constantly being reformed which was one of the goals […]
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With the idea of implementing the four freedoms of the European Union in the Western Balkans as soon as possible; movement of people, goods, services and capital, the Open Balkan initiative was launched in October 2019 by the leaders of Serbia, Albania, and North Macedonia. It is a major step in cooperation between the three countries, aiming to increase trade and improve bilateral relations. Another important milestone is expected this week at the Summit to take place in Ohrid, June 7-8. The legal framework and basis for concrete activities within the Open Balkan initiative were established by declarations and agreements […]
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In anticipation of the June 7 plenary session when the European Parliament will take on the CBAM proposal, we delve into the key ideas behind and the expected game-changing impact of the regulation on international trade. In this edition of our CBAM series, find out more about how this wind of change may affect consumers, businesses and economies across the globe. Why is the EU introducing a new carbon pricing policy? As a new policy, the Carbon Border Adjustment Mechanism (“CBAM”) is being developed to work in conjunction with the EU Emission Trading System (“ETS”) – a cornerstone of the EU’s […]
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As part of our Legal 500 Series, we are delighted to present our partner Ognjen Colić. Ognjen’s knowledge, experience and market-leading work in the region have been continuously recognized by The Legal 500 ever since 2019 when he was named Next Generation Lawyer. In this research cycle, for the third consecutive year, Ognjen was honored as a Leading Individual in Commercial, Corporate and M&A. The renewed accolade comes after a year of tremendous success in Ognjen’s practice and his appointment as a partner in the firm. Ognjen has headed the firm’s Corporate/M&A practice since its early stages after he joined […]
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Through several moves in recent months, the U.S. Securities and Exchange Commission (“SEC”) has demonstrated its will to put its proverbial money where its mouth is when it comes to ESG. Businesses often resort to window dressing in their ESG reports to showcase a pretty picture, using appealing ESG vocabulary without actually committing to any of these goals and values, and most importantly, without any accountability for what is being reported. The SEC seems to be interested in putting an end to such attitudes. The body is increasingly showing resolve in addressing the practice of greenwashing reports and is doing […]
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The Serbian Competition Authority (‘’SCA’’) revealed yesterday the long-awaited new Guidelines on bid-rigging (‘’Guidelines’’). The Guidelines provide essential instructions on how to detect rigged bids in public procurement procedures. They come 11 years after they were last updated, reflecting the latest amendments to the Public Procurement Act and the Criminal Code. This news is crucial as the new Guidelines aim to prevent and hinder bid-rigging, an illegal practice where bidders collude to decide the winner, resulting in a higher price than may have been achieved in a truly competitive bidding process. As prices are driven up in public procurement processes, […]
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What has been in the making for years now is set to become a reality very soon. The EU’s Carbon Border Adjustment Mechanism (“CBAM”) is expected to be adopted at the plenary session of the European Parliament, which will be held on June 7, 2022. The EU is finalizing its plans to introduce a charge at its border for carbon emissions associated with products sold in the EU. This is likely to mark a tectonic shift in international trade with far-reaching implications for businesses and economies around the world that rely on exporting their goods to the European Union. In […]
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