15:24 09.02.2016

Business ombudsman's office, Trade Ministry agree to develop new law on foreign trade

1 min read
Business ombudsman's office, Trade Ministry agree to develop new law on foreign trade

The Business Ombudsman Council and the Ministry of Economic Development and Trade have agreed to develop a new law to regulate export and import operations, business ombudsman Algirdas Semeta has told reporters at a press conference.

"We have agreed with the ministry that they will develop a new law on the regulation of these relations," the official said.

According to him, the current legislation very strictly regulates the operations, especially exports.

"I haven't previously seen so that exports were so toughly regulated," he said, adding that countries usually tougher regulate imports to protect own economy.

Semeta added that the current legislation regulating export-import operations was adopted in 1991 and since then has been changed more than 20 times.

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