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The proposed amendment to the Law on Trade and Service is aimed at the implementation of the economic policy programs adopted by the Government.

The legislative initiative was debated in the first reading at the NA extraordinary sitting convened on June 9. According to the current regulations, the economic entity applies to the Ministry of Finance for the organization of the activities of trade centers, markets for consumer and agricultural products, notifying for the implementation of such activities. The RA Deputy Minister of Finance Armen Hayrapetyan noted that according to the proposed amendment, there will be a state administration body authorized by the Government instead of the Ministry of Finance, giving an opportunity to reserve the power to such a department, which, with its main functions, will be closer to the functions of trade and services.

The member of the Standing Committee on Economic Affairs Hovik Aghazaryan noted that the amendment is aimed at simplification and facilitation of the activities of the economic entities.

After the adoption of the draft, it is envisaged to assign the functions of the state administration body authorized by the Government to the RA Ministry of Economy.