CIS free trade zone treaty in force in Belarus, Russia, Ukraine – Economy / News / Belarus News | Belarusian news | Belarus today | news in Belarus | Minsk news | BELTA – Belarus News | Belarusian news | Belarus today | news in Belarus | Minsk news | BELTA

Posted: October 6, 2012 in Tajikistan

CIS free trade zone treaty in force in Belarus, Russia, Ukraine

20.09.2012 13:59

MOSCOW, 20 September (BelTA) – The treaty on a free trade zone in the Commonwealth of Independent States came into force in Belarus, Russia, and Ukraine on 20 September, BelTA has learned.

The document was signed by Belarus, Russia, Armenia, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, and Ukraine in Saint Petersburg on 18 December 2010. Belarus and Russia were the first ones to complete the ratification procedures. Ukraine did the same a month ago.

Armenia has ratified the document and it will come into force on 17 October. Kazakhstan, Kyrgyzstan, Moldova, and Tajikistan have yet to start the intrastate procedures.

The CIS free trade zone treaty is meant to enable conditions for full-fledged and effective operation of a free trade zone in the CIS space. It also has to create favorable conditions for further enhancement of integration on norms of the World Trade Organization.

Unlike similar documents, which are in effect in the CIS, this one provides for an instrument to force the sides that fail to honor their obligations to honor them. Rules to resolve disputes are the instrument. They are laid down in an addendum to the document.

Along with cancelling import and export duties the treaty forces the sides to non-discriminately use non-tariff regulations, enable the equality of aliens, and follow subsidizing rules, which are compliant with the international practice.

The document removes quantity restrictions in mutual trade, equalizes the rights of the sides in government purchases, enables the freedom of transit and the possibility to use special protective measures in mutual trade. The document regulates subsidies, technical barriers in trade, application of sanitary measures and restrictions meant to ensure the balance of payments.

The CIS free trade zone treaty will replace the existing bilateral and multilateral documents on free trade.

The document will be in effect for an indefinite term. After it comes into force, the sides will have to work out and sign a protocol on rules and procedures to regulate government purchases. The sides will also have to work out and sign an agreement on pipeline transport transit.

via CIS free trade zone treaty in force in Belarus, Russia, Ukraine – Economy / News / Belarus News | Belarusian news | Belarus today | news in Belarus | Minsk news | BELTA – Belarus News | Belarusian news | Belarus today | news in Belarus | Minsk news | BELTA.

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