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The draft proposes to ratify the Agreement on Postal Payment Services adopted within the framework of the 27th Congress of the Universal Postal Union (UPU), which will promote increasing the quality and availability of universal postal communication services. At the sitting of the Standing Committee on Economic Affairs on September 27, the RA Deputy Minister of High-Tech Industry Davit Sahakyan said this presenting the draft law on Ratifying the Agreement on Postal Payment Services.

It was noted that the Agreement regulates all the services regarding postal money transfer, including paper transfers and electronic transfers, defines the duties and responsibilities of the appointed operators.

According to the Deputy Minister, the currency of money transfers, the maximum amount of one transaction, the maximum term of payment of transfers, the periodicity of the offset, the implementation technology, the responsibility of the parties, obligations and other provisions are established by the contract signed between the operators.

It was also mentioned that the purpose of the Agreement is to involve the operator appointed by the Republic of Armenia in all types of financial payment service networks, which will provide an opportunity to exchange postal money transfers both in paper and electronic form with any UPU member state in tight deadlines.

Since 1992, the Republic of Armenia has been a member of the UPU, which is an intergovernmental international organization and has the status of a specialized agency of the UN.

The Deputy Chair of the NA Standing Committee on Economic Affairs Babken Tunyan noted that according to the Expertise and Analytical Department of the NA Staff, two important documents are missing from the Agreement.

The representative of the RA Ministry of High-Tech Industry informed that all the documents will be presented before the issue is debated in the plenary sitting.

The Committee members endorsed the draft law.