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PM Massimov on the CIS free trade agreement

19 october 2011, 08:59
0
Karim Massimov in St. Petersburg © Danial Okassov
Karim Massimov in St. Petersburg © Danial Okassov
When commenting on the agreement to launch the CIS zone of free trade signed in St. Petersburg, Kazakhstan’s PM Karim Massimov emphasized that it was the result of strong political will of the CIS Governments, Tengrinews.kz reports from St. Petersburg.

“Since 1994 there have been debates over a possible free trade zone within the CIS, but something prevented from reaching the finish line. Today it was a strong volition. With due consideration of the tasks set by our respective Heads of State, we signed this important and long-awaited document. It will enable to boost trade among the CIS nations and attract new investments into the CIS member states. Coupled with the initiatives already adopted with regards to Customs Union, the Common Economic Space, this agreement offers new opportunities and a new direction for our further development”, Karim Massimov said.

“We signed a free trade agreement in 1994. But not all nations, including Russia, ratified it eventually. The agreement was not working. Seeing the pace we have been developing at without a free trade agreement in place, we can only assume what the pace would be if there were such a free trade zone … As we all understand, it’s a new foundation for long-term trade and economic relations within the CIS”, Russia’s PM Vladimir Putin said.

According to him, in the H1 2011 the trade turnover within the CIS grew by 48%, reaching $134 billion.
The free trade agreement is officially titled as the St. Petersburg agreement.

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