New Independent Authority Modeled After AADE to Oversee Market Created

In an effort to protect and restructure market oversight, the government is moving forward with the establishment of this new independent administrative authority, which will resemble entities like the AADE. Earlier today (28/5/2025), Minister of Development Panagiotis Theodorikakos presented all legislative initiatives for reforming market oversight and consumer protection at the Cabinet Council. These initiatives are divided into two levels: institutional and practical. On the institutional level, it was decided to establish the new independent authority akin to the AADE and similar bodies in European countries such as Sweden, Denmark, and Italy. This new authority will consolidate the responsibilities of the Consumer Advocate, the inspection departments for consumer protection under the General Secretariat of Trade, and the Interdepartmental Market Control Unit (DIMEA). Its aim is to simplify citizens’ issues related to market operations. It will enhance and upgrade control mechanisms, with additional resources and technological infrastructure allocated. It will have a director and deputy directors following the AADE model, encompassing all the responsibilities of the current inspection mechanisms from the General Secretariat of Trade, DIMEA, and the Consumer Advocate, along with necessary administrative and financial support. Its responsibilities will include mediation, inspections, and certifications. Further legislative action will follow, with the new authority fully operational by the first half of 2026. On the practical level, the Cabinet Council approved several interventions proposed by Minister of Development Takis Theodorikakos, including the possibility of local governments creating farmers-only markets, developing a digital application for real-time price monitoring and consumer updates, requiring mandatory announcements of package size reductions to ensure corresponding price adjustments, and changing the trading methods for agricultural products.