The Ministry of Economics (MoE) is working on changes to the law to prevent grocers from pricing Latvian and foreign goods differently and applying different cooperation conditions and mark-ups to goods from one supplier compared to equivalent goods from other suppliers. Valainis referred to several studies which have shown that domestic food products are subject to higher mark-ups than imported products.
Valainis said that the EM will also propose to significantly strengthen market surveillance mechanisms, with the possibility of imposing 20 times higher fines on traders than at present for unfair commercial practices.
"Latvia is one of the countries that is one of the friendliest in the EU towards [unfair commercial practices] violations. We will propose to raise the fines 20 times, from 0.2% to 4% of annual turnover," the minister said.
The minister said that the first package of amendments would be submitted to the government by the end of November.
