CIS to create free service trade area

CIS member states have ratified the treaty establishing a free trade

zone, Valery Muntiyan, the Commissioner of the Government

of Ukraine on cooperation with Russia and the CIS said today, RIA Novosti

reported.

On July 30 the Ukrainian parliament passed a bill to ratify a treaty

on a free trade zone in the CIS. President Viktor Yanukovych signed the

law on August 9. Ukraine became the third country to sign the

document after Russia and Belarus

The agreement on a free trade zone within the CIS was signed on October

18, 2011 by eight countries - Russia, Armenia, Belarus, Kazakhstan,

Kyrgyzstan, Moldova, Tajikistan and Ukraine. At the same time,

Azerbaijan, Turkmenistan and Uzbekistan expressed their desire to

further study the issue of accession to the treaty.

The document will provide the necessary conditions for full and

effective functioning of a free trade zone within the CIS and create

favorable conditions for further deepening of integration on the basis

of the norms of the World Trade Organization.