Street traders on Meath Street in the heart of Dublin's Liberties are to get official recognition.
The City Council has begun a process to designate the street an official area for casual trading.
"It's great news for Dublin and excellent news for the cultural value of this type of trading", said Cllr Mannix Flynn who has been pushing for the move for some time.
Nearby Thomas Street is already a designated area for street trading but stalls on Meath Street have not been given official recognition.
Cllr Flynn explained that the City Council had been examining the potential in the area and the next step was to put a policy document before the Council Casual Trading Committee.
"We are beginning to realise the sheer potential and cultural value of strong good markets and stalls," he said.
"Meath Street has a lot of shops and about five stalls which trade on Saturdays, bank holidays and the occasional good day or if there is a local event."
He said that if the stalls were given official recognition they would have to be tax compliant, pay for a licence, pay rates and refuse collection which could cost several hundred euro.
"Its not a cheap thing but we are trying to get an equal playing pitch for all traders and make sure that the stalls enliven a street with good products," he explained.
"If they don't comply one year they will lose their licence for the next year."
Mr Flynn said he was "100pc behind regularising the street trading. People who have been trading there for years without a licence will be given a fair hearing and others who want to trade will be given a hearing too."