Armenia ratifies CIS free trade zone agreement

YEREVAN, September 11. /ARKA/. The National Assembly of Armenia ratified Tuesday an agreement on CIS free trade zone with 97 (for) versus 2 (against) votes.

Thus, Armenia has become the fourth CIS member state after Russia, Belarus and Ukraine to ratify the document.

Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan and Ukraine signed CIS Free Trade Zone Agreement on October 18, 2011. Azerbaijan, Turkmenistan and Uzbekistan, on their side, made a decision to further discuss and evaluate the agreement. 

The agreement will ensure all the necessary conditions for effective operation of free trade within the CIS space as well as will foster the further integration based on the norms of the World Labor Organization. It will replace the existing agreements on bilateral and multilateral free trade between the Commonwealth countries. —0--