Legal Regulation on the Economic Trade Activities: Trends and Prospects

Abstract

The author examines topical issues on legal regulation of economic trade activities in conditions of full-scale war, obtaining the EU candidate country status. It is analyzed the challenges and legislative trends in regulating the economic trade activities; as well as identified directions for improving the legal regulation of such activities in current economic conditions. It is emphasized that it is trade that plays a significant role in the forming the economic potential of Ukraine. The author concludes that economic trade activity is a type of economic activity that is carried out by business entities (business organizations and individuals) in the field of commodity circulation; on a professional basis; for a fee; in order to satisfy the consumers’ needs. Legal basis for the economic trade activities is provided by the Economic Code of Ukraine; Ukrainian laws, which regulate different types of domestic trade; numerous subordinate regulatory legal acts (in particular, Trade Rules), ethical codes, trade customs (domestic and international); international acts.
The author emphasizes that the lack of a single definition of the «economic trade activity» concept, as well as the Law of Ukraine on economic trade activities that causes practical problems. Based on the analysis of Ukrainian current legislation, international trade regulations, the European Union legislation, the expediency of adopting a special law on economic trade activity is substantiated in order to develop the provisions of the Economic Code of Ukraine, in particular forms of economic trade activities, terms of its fulfillment; peculiarities of organizing particular types of trade; means of state regulation; state support for business entities that sell socially significant goods; rights and obligations of subjects of such activity, protection of their rights and interests; essential terms of business contracts on economic trade activities and responsibility of subjects of trade activities, self-regulation of the abovementioned activities. The implementation of such proposals will contribute to the development of domestic trade, as well as increase the level of trade service for consumers and protection of their rights.