Legal alert: Mongolia acceded to the Asia Pacific trade agreement
On 29 September 2020, Mongolia acceded to the Asia Pacific Trade Agreement (APTA) as its seventh member by depositing the instrument of accession after long negotiation and domestic procedures. Initially, Mongolia expressed its interest to join the APTA in 2009 . As prerequisite for the accession, it had conducted several negotiations with member countries (the People’s Republic of Bangladesh, the People’s Republic of China, the Republic of India, the Lao People’s Democratic Republic, the Republic of Korea, and the Democratic Socialist Republic of Sri Lanka), as well as adopted the Law on Ratification of Asia Pacific Trade Agreement on 12, December 2019 . The Agreement will be effective from 1 January 2021.
Impact of COVID-19 and its prevention measures on Mongolian economy
According to the latest update on national statistics, the Mongolian economy has shrunk by 10,7% in connection with the pandemic. The primary condition for the shrink is the decrease in the export of coal, copper and zinc concentrate, and oil due to declining demand for mineral resources in connection with the slowdown of Chinese economy, as the dependence from China is substantial. Following this, the current account deficit reached 767.0 million USD, increased by 368.9 million USD as of the first quarter compare to the same period of the previous year.
Support of export and import during the period of combating the spread of coronavirus infection (COVID-19)
The Decree of the President of the Republic of Uzbekistan ‘On priority measures to mitigate the negative impact on sectors of the economy by the coronavirus pandemic and global crises’ No. UP-5969 dated March 19, 2020, envisages a number of measures to mitigate possible negative consequences for business entities and citizens of the Republic of Uzbekistan.
A new level for retailers
On January 1, 2019, Federal law No. 488-FZ of 25.12.2018 on the unified information system for marking and tracking the movement of goods using identification marks came into force, which, on behalf of the government of the Russian Federation, should be extended to all consumer products in Russia by 2024.
Novelties in Goods Labelling with Means of Identification in the EAEU
As you may know, the Agreement for Labelling Goods with Means of Identification in the Eurasian Economic Union (hereinafter - the 'Agreement') entered into force. Pursuant to the Agreement, an obligatory labelling of goods with machine-readable and mutually readable marks in the territory of the Union is introduced in the EAEU countries.
The Dialogue between the West and the East - the China-Belarus Great Stone Industrial Park
n 2010 the cooperation agreement on the establishment of the China-Belarus Industrial Park in the territory of the Republic of Belarus was signed between the Ministry of Economy of Belarus and the Chinese Engineering Corporation CAMC (CAMCE).
Mandatory labeling of commodities and system for monitoring circulation thereof in Russia
On 1 January 2019 amendments to the Federal Laws “On the Basics of State Regulation of Trading Activities in the Russian Federation” and “On the Use of Cash Registers when Making Settlements in the Russian Federation”, introduced by Federal Law No. 488 – FZ of 25.12.2018, came into force, providing for the creation of a state information system for monitoring the circulation of commodities subject to mandatory labeling by means of identification, and requirements to it.
What to expect from the amendments in land legislation?
On 29 November 2017 the deputies of the Mazhilis of the Parliament of the Republic of Kazakhstan approved in the first reading draft law "On Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan Regarding Regulation of Land Relations" (hereinafter referred to as the "Draft Law"), developed following the work of the Commission on Land Reform.
Administrative liability of manufacturers, contractors and sellers in Russia: legal developments
On 30 July 2017, amendments to the Code of Administrative Violations of the Russian Federation introduced by the Federal Law No. 175-FZ dated 18 July 2017, came into force. The amendments establish special administrative liability for the failure of the manufacturer (contractor, seller, or a person acting as a foreign manufacturer) to take measures for harm prevention in case of circulation products that do not meet the requirements of technical regulations.
Azerbaijan adopts legislation to promote high-growth in non-oil sector and expand export opportunities
President of the Republic of Azerbaijan signed a decree on “additional measures with regard to strengthening the position of the Republic of Azerbaijan as Digital Trade Hub and expansion of foreign trade transactions” on February 22, 2017.