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Controversial new Legislation to Protect Local Produce

Published: September 24, 2013 | 1:08 pm
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A legislation designed to protect local produce, or a mechanism of corruption? The Ministry of the Economy is working on legislative changes to protect the local market, which the members of the parliamentary majority have described as ‘vital,’ the members of opposition as ‘corrupt,’ and the experts as ‘risky.’ The legislation aims to halt the imports of certain products for periods of 200 days to 4 years, taking into account the interests of the local manufacturers. There are also plans to tax subsidies and price dumping. According to Gogi Topadze of the Georgian Dream Coalition, the legislative changes could lead to a price increase in the short term, but talks of corruption and protectionism are absurd. In contrast, Giorgi Vashadze of the Parliamentary Budget Commission states that the legislation would go against the fundamental principles of free market economy. According to him, the legislation would encourage corruption.
Economic expert and IliaUni Business Review researcher Irakli Lekvinadze has described the proposed legislative changes as risky. According to him, there is a high probability that they would lead to price hikes and corruption.
The new legislation is being designed by the Deputy Minister of the Economy Mikheil Janelidze. TV3 will bring you updates on the issue after it is heard at the Parliament’s next session.

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