The agreement on the free trade area within the Commonwealth of Independent States for Ukraine, Russia and Belarus will come into effect on September 20, a spokesperson for Ukraine's permanent representative office to the CIS coordination institutions told Ukrainian News.

"The CIS free trade agreement for Ukraine, Russia and Belarus will come into force on September 20," the spokesperson noted.

The agreement comes into force after the last of the three countries is notified of passing through the required domestic procedures, he said.

Ukraine, the last of the three states, submitted the notification on August 21 and consequently, the agreement will take effect 30 days hereupon.

According to the press-service of the CIS Executive Committee, the Government of Moldova on August 29 approved the draft law on ratification of the CIS free trade agreement.

Then it must be ratified by the Parliament of Moldova.

Despite the agreement, Moldova's duty on sugar and ethyl spirit with Ukraine will be still effective, Moldova's Minister of Economy Valeriu Lazar said.

As Ukrainian News earlier reported, President of Ukraine Viktor Yanukovych on August 9 signed the Law on Ratification of the Agreement on the Free Trade Area with the Commonwealth of Independent States (CIS).

The Verkhovna Rada ratified the agreement on July 30.

On October 18, 2011 eight CIS countries arranged creation of a free trade area but with certain exceptions on separate groups of commodities (nevertheless levied with duties).


 

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