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05 November 2013

Untapped potential of Smart Regulation for SMEs

According to a press release, from the Lithuanian (rotating) presidency of the EU organized on 29 October a panel discussion on Smart Regulation for SMEs, attended by Brussels based European business organizations, representatives of companies, EU institutions and diplomats. The event focused on impact of regulation to medium sized enterprises in Europe and possible ways to reduce regulatory burden. 
In his opening remarks Deputy Permanent Representative of Lithuania to the EU ambassador Arunas Vinciunas noted that as a rotating Presidency Lithuania has placed special attention on smart regulation and SMEs in its Presidency Programme. "Smart regulation for SMEs is an important priority for the European Union as efficient and fit for purpose legislation in that area is a prerequisite for economic growth and for strengthening the competitiveness of Europe. Regulation has a direct impact on businesses, on performance of the companies. Our task during Lithuania's presidency - to make at least a small step forward to make life easier for the creative and hard-working business people," said ambassador Vinciunas.
According to him Smart Regulation should not sound as just a political slogan. Smart Regulation contains a number of important instruments to be fully employed and still has undisclosed potential to make EU and national legislation less burdensome for enterprises and effective at the same time.

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