The Georgian Parliament approved a bill on Consumer Protection in a third reading with a total of 79 votes on March 29.
The newly adopted bill establishes rules for consumer protection and prohibits “unfair commercial practices” that violate the values of “trust and good faith”.
Nino Iobashvili, the Deputy Chair of the Parliament’s Committee on European Integration, said the new law was an “essential component” among the obligations under the EU-Georgia Association Agreement.
“Adopting this law has a great importance in the process of harmonizing our legislation with the EU’s legal framework,” Iobashvili added.
The National Competition Agency will be responsible to execute the Consumer Protection law.
The European Union and Georgia signed the Association Agreement in June 2014, which included a Deep and Comprehensive Free Trade Area, liberalizing trade in both goods and services between the EU and Georgia.
The agreement deepened the country’s political and economic ties with the EU in the Eastern Partnership framework, which was launched in 2009 and united six Eastern European countries, including Georgia. (Agenda/Business World Magazine)