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New Trade Law proposes protections for consumers and businesses

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The Cabinet has initiated a new Trade Law and presented it for approval by Parliament. MPs Ya.Sodbaatar and D.Demberel initiated a project to coordinate trade issues, which earned a majority vote in today’s general session of Parliament to submit it for further approval.

Last year Mongolia conducted trade valued at 11 billion USD with 139 countries, a 3.6 percent increase from 2013. The nation’s foreign trade balance saw a profit of 537.9 million USD; however, foreign trade payment saw losses of 321 million USD.

Analysts attribute these figures to the economy’s unilateral structure, consumption of imported fuel, high consumption of imports in other markets, and because 90 percent of export revenue comes from a declining amount of mining raw materials.

Others say that the deficiencies are connected to poor legal coordination in trade. Some MPs spoke about the proposed Trade Law and their concerns.

Member of Parliament L.Enkh-Amgalan: There is a tendency that after the approval of any law, the Parliament approves a regulation which falls outside of the law.

The state says to promote ordinary citizens, but when they are approving rules, laws and regulations, they don’t keep promises. In contrary, they put pressure on businesses and individuals and increase the number of licenses and such. It creates a dual control and inspection structure.

Member of Parliament B.Bat-Erdene: Small and medium sized enterprises conducting activities rent small premises, and landlords put pressure on their activity by increasing the price of rent.  Plus, they have to carry out their activities under pressure from the Professional Inspection Authority.

Member of Parliament Su. Batbold: Traders never discount used, old products. For instance the prices for old and fresh bread are always the same. This reflects negatively on producers not traders.

SOURCE: News.mn




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