Detectives and analysts of the Economic Security Bureau of Ukraine together with specialists of the State Regulatory Service of Ukraine will prepare proposals to improve the regulatory framework in the field of economic activity.

The heads of the agencies signed a Memorandum of cooperation. The document also provides for discussion of draft regulations, joint trainings and conferences and exchange of information on complaints in the field of state supervision.

"The generalized practice of the Regulatory service explanations on the application of legislation on supervision or control in the field of economic activity licensing and the permitting system will contribute to the efficiency of the work of the Bureau's detectives and analysts. And the joint development of legislative initiatives will have a qualitative impact on eliminating the prerequisites for the de-shadowing of Ukraine's economy," said Eduard Fedorov, Acting Director of the Bureau.

"The economy will become truly strong only when business is conducted honestly and transparently. The Bureau of Economic Security and the State Regulatory Service have a common goal - honest business and the eradication of illegal business," said Oleksiy Kuchera, head of the State Regulatory Service of Ukraine.

For reference: The State Regulatory Service of Ukraine (SRS) is a central executive body directed and coordinated by the Cabinet of Ministers of Ukraine and implements the state regulatory policy, policy on supervision (control) in the field of economic activity, licensing and permitting system in the field of economic activity and deregulation of economic activity.

The SRS is a specially authorized body for licensing and permitting system in the field of economic activity.