ECONOMY
CIS: NEW CONTRACT TO GIVE IMPULSE TO DEVELOPMENT OF ECONOMIC AND TRADE RELATIONS
Moscow, September 17 (AZERTAC). The meeting of CIS Ministers of Economy on the draft contract on free trade zone took place at the Ministry of economic development of Russia in Moscow. The Azerbaijan Republic was presented by the first deputy economic minister Niyazi Safarov.
Opening the meeting, the minister of economic development of Russia Elvira Nabiullina noted that for Russia economic cooperation with the CIS countries is one of the key priorities. She said that the discussed draft contract on the free trade zone has great importance for Russia and all countries of Commonwealth. As was stated, about two years there a team has worked on the new draft contract and for today it was possible to coordinate and pull together basically the positions under the document with partners.
As she noted, taking into account the present economic situation in the CIS, membership of some of the Commonwealth states in the WTO and intentions of other countries to join this international organization there was a necessity of improvement of legal base of interstate trade relations. Therefore, it was formed a new Draft on the free trade zone which will help to outline a common Draft, meeting modern requirements, contractual base for full-scale liberalization of trade on CIS space.
“This new contract will give an impulse to development of our economic, trade relations. For Russia it is also very important, because the CIS countries are traditional partners, and this document defines common rules of trade for everything, trade protection", the Minister told.
The CIS executive secretary Sergey Lebedev in his statement gave high appreciation to trade and economic relations between the Commonwealth countries, noting that many questions are being solved today. In his opinion, interest of all states in strengthening of trade and economic cooperation is observed, and the working group will intensify work on the Draft on free trade zone.