The Economy Ministry submitted the draft law on product placement to the competent bodies for approval. Anatolie Silistrari, division head at the Ministry, said the document is designed to adjust the national product placement standards to the European ones. It defines the framework and methods of cooperation between the relevant public authorities, IPN reports.

As to the amendments to the legislation on the protection of consumer rights, Anatolie Silistrari said that the Economy Ministry, in concert with the Ministry of Finance, the National Bank of Moldova, the Association of Banks of Moldova and other institutions, initiated the drafting of the law on distance sale of financial services, which will regulate the informing of those that use such services and will set the minimum volume of information that needs to be transmitted to them when signing contracts for the provision of these services by phone, email and other means.

As in the case of the bill on consumption loan contracts that is in to be considered by Parliament, the draft law on distance sale of financial services will offer the consumers a period of 14 days to withdraw from the contract signed with the financial institution without sustaining losses.