Abstract. The purpose of the study is to investigate the practical issues to protect and develop competition in transformation countries on the basis of the experience of industrialized countries. The research work applies methods such as a scientific abstraction, system analysis and logic synthesis. The result of the study emphasizes that in transitional and developing economies the protection of competition is of outstanding significance. In particular, trade liberalization, careful economic regulation, appropriate state support for local governments, privatization and other policy areas should be continuously promoted by an independent competition agency. The practical significance of the study is its potential to enrich the academic and practical knowledge of specialists working in this field. Moreover, experts conducting research into the creation and development of sound and effective environmental policies will be supported by the effective implementation of competition policy. The originality and scientific novelty lies in the fact that the research work analyzes and systematizes experience of developed and developing countries; moreover it gives recommendations to look into these countries regarding their practices for the protection of competition.

Keywords: competition policy, competition advocacy, protection of competition, competition  agency.

JEL Classification Codes: D41