In St. Petersburg on 18 October 2011, a treaty on free trade in the CIS was signed

In St. Petersburg on 18 October 2011, a treaty on...

In St. Petersburg on 18 October 2011, a treaty on free trade in the CIS was signed

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Subject: Annulment of mutual export and import duties on goods transported between countries.

 

Goal: Simplification of trade-economic relations between countries.

 

Parties: Russia, Ukraine, Belarus, Kazakhstan, Armenia, Kyrgyzstan, Moldova and Tajikistan. Azerbaijan, Turkmenistan and Uzbekistan well decide if they will join the free trade zone before the end of 2011.

 

Enters into force: January 2012.

 

Business possibilities: Optimization of customs payments when shipping goods within the CIS.

 

This treaty replaces a multilateral agreement and close to 100 bilateral agreements that regulate today’s free trade regime in the CIS.

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