Three countries didn't sign CIS free trade agreement 19 октября 2011, 14:14
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Heads of CIS Governments. Photo by Danial Okassov©
Azerbaijan, Turkmenistan and Uzbekistan did not sign the CIS free trade agreement, Tengrinews.kz citing Russia's Prime-Minister.
“The agreement was signed by Russia, Belarus, Kazakhstan, Armenia, Kyrgyzstan, Moldova, Tajikistan. According to heads of their delegations, Azerbaijan, Uzbekistan and Turkmenistan will review the possibility of joining this agreement by the end of this year, Putin told journalists at the briefing after the Council.
He also noted that creation of the free trade zone does not contradict with the requirements and principles of the World Trade Organization which Kyrgyzstan, Armenia, Ukraine and Moldova are part of.
"What is a free trade zone? This means we will cancel export and import duties for whole groups of commodities. Yes, there are certain flaws, we agree and will try to gradually leave them behind. What does cancellation of import and export duties mean? It means that we are opening our markets for our commodities, which means that our commodities will be supplied to our markets at much lower costs. This means that we are creating conditions for new joint companies,” Russia's PM said.