Bolivian President Evo Morales has signed a supreme decree to eliminate the current laws governing the mining, forestry, labor, banking, investment, electricity, export and environment sectors, state news agency ABI reported.
"I am here to sign this decree and bury 21060," Morales said in a speech to celebrate international workers'' day on May 1.
The new decree is designed to replace decree 21060 which was approved in 1985 by the government of Víctor Paz Estensoro.
The repeal of decree 21060 was part of an agreement reached between the government and the country''s central labor union (COB) which has been carrying out protests in La Paz since April 7. In addition to the repeal of the decree, which significantly reduced the role of the state in the economy, the union has been calling for the reactivation of the productive sector and wage increases.