Commercial law in Macedonia after 1990

• Main Authors: Endri Papajorgji, Rezarta Tahiraj
• Format: Article
• Language: English
• Published: Bucharest University of Economic Studies 2019-06-01
• Series: Juridical Tribune
• Subjects: commercial law; Macedonia; reform; free market economy
• Online Access: http://www.tribunajuridica.eu/arhiva/An9v2/1.%20Tahiraj,%20Papajorgji.pdf
• ISSN: 2247-7195; 2248-0382

With the Declaration of Independence of 17.11.1991 and the entry into force of the Constitution on 20.11.1991, Macedonia was free to draft its own legislation. But the difficult internal and external situation, the unofficial imposition of the Greek embargo since the end of 1991, and the UN embargo on Yugoslavia, which brought losses of US $ 80 million a month to the new state, had a negative impact on the legislative process. The 1990 (!) amended Yugoslav company law of 1988, which replaced the Organization of Associated Labour as a basic economic subject with the "commercial companies" as a new legal concept, organized the economic life in public companies and limited liability companies. All Art.s that regulated the economic organizations in Yugoslavia were abolished. This amendment was in force until 30.5.1996. In this sense, main objective of this manuscript is the analysis of the commercial law reforms in Macedonia after the fall of communism towards a free market economy and EU membership.