And that, this priority has only been partially met. Establishment of standardisation and conformity assessment structures. The restructuring of the banking sector remains one of the major challenges, although the privatisation of two state-owned banks has been completed. The liberalisation of capital markets has continued. Company law reform is advanced but major efforts remain to be undertaken as regards the establishment of a simple, transparent and effective legal environment to enable and support enterprise development.
Major efforts remain to be undertaken to harmonise and improve the application of indirect taxation.
A new public procurement law has been adopted by Government Ordinance. A state-aid law has been adopted. The establishment of appropriate standardisation and conformity assessment structures has been almost completed. Therefore, it can be considered that this priority has been met although it is clear that further efforts will be required to consolidate and implement the new legislation and strengthen the institutional capacity. A number of initiatives have been launched to combat corruption, but a comprehensive approach is still lacking.