Ministry of Economy explains its appeal to US lawyers to obtain market economy status


The Ministry of Economy has commented on the decision to hire American lawyers who will help Belarus to obtain the status of a market economy, the press service of the agency reports.

On October 9, the government decided to turn to the US company Crowell & Moring to help Belarus get the status of a market economy.

“The status of a non-market economy was automatically obtained by Belarus after the collapse of the USSR. This status allows the US government to apply restrictive customs and tariff measures to certain types of Belarusian products, making their export economically impractical,” explained the agency.

At the same time, the Ministry of Economy notes that recently the Belarusian-American relations have become much warmer. There is a need to remove some restrictions on trade and trade turnover.

Among other things, the agency notes that the revision of the status will give Belarus a better image. It will be easier for the state to join the World Trade Organization.

But the process itself is quite complicated. The status is being reviewed by the US Department of Commerce. The procedure itself takes about a year. Usually, in order to successfully resolve the issue, the government turns to law firms that deal with current issues. The Belarusian government has decided to turn to Crowell & Moring, which has a positive experience in legal support of such procedures.

belsat.eu

See also
Comments