The Federation Council of Russia has ratified the free trade zone agreement with CIS for integration based on norms of the World trade Organization, RIA Novosti reports.
The document was signed by Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Moldavia, Tajikistan and Ukraine on October 18, 2011.
It lifts import custom fees, guarantees non-discriminate fees and subsidizing.
Vladimir Jabarov, Deputy Chairman of the International Committee of the council, said that the document sets clear rules for all sides. It expands the market. It should benefit integration in the WTO.
Russia will reduce imports of pipes, cotton, fur, leather, beef, mutton, vegetables.
The document comes into force in 30 days.
