The requirements and procedures for granting licenses to service providers will be simplified. A decision to this effect was taken by the Cabinet at the suggestion of the Ministry of Economic Development and Digitization. The decision was taken in a move to fulfill Moldova’s commitments related to the General Agreement on Trade in Services (GATS), IPN reports.

The changes to the list of commitments will enable to include new rules and procedures, at the request of the business community from a number of member states of the World Trade Organization. The additional provisions aim to facilitate trade in services, to improve the business climate, to reduce the commercial costs and generate wider commercial benefits. Moreover, there will be examined the practical challenges that affect the capacity of enterprises, primarily SMEs and providers, to operate on foreign markets.

“It is essential for the service providers and entrepreneurs to be supported by a series of legislative proposals that would facilitate their work. Today’s initiative is important and is designed to supplement the list of already existing commitments that were negotiated by 70 countries that are members of the World Trade Organization,” said Deputy Prime Minister Dumitru Alaiba, Minister of Economic Development and Digitization.

By another draft decision approved by the Cabinet, audit committees will be constituted at institutions of public interest. By their activities, these committees will contribute to applying and monitoring the stricter requirements in the legal audit of financial records. At the moment, the enterprises do not have an adjusted normative framework, while the relevant national legislation needs to be harmonized with the EU norms.