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New law simplifies business

Oct 22, 1998
Anastasia Styopina

RIGA - Commercial activity in Latvia is regulated by multiple laws that were passed when the country had just learned about market economies. Now that business has outgrown its cradle of seven years ago, it needs new legislation to develop further.Last week, the Latvian Cabinet of Ministers adopted a new commercial law that would replace 12 existing laws and will correspond to European Union directives by defining a company's responsibility toward its creditors.When the first laws were adopted, ...

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