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Ukrainian first vice-premier calls for urgent ratification of CIS free trade zone agreement

November 04, 2011, 22:41 UTC+3
“The agreement will provide vast opportunities to the Ukrainian economy,” he said
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KIEV, November 4 (Itar-Tass) —— Ukrainian First Vice-Premier, Economic Development and Trade Minister Andrei Klyuyev has urged the Verkhovna Rada to ratify the CIS free trade zone agreement before the end of this year.

“Hopefully, we will operate under this agreement starting from January 1, 2012, when the document is ratified by the parliament,” he said. “The agreement is of large significance for Ukraine.”

The CIS free trade zone agreement is particularly important against the backdrop of the deepening economic crisis, so the soonest ratification is a must, Ukrainian Prime Minister Nikolai Azarov wrote on the Facebook on Friday.

“The agreement will provide vast opportunities to the Ukrainian economy, and this is imperative amid the seriously exacerbating financial and economic conditions in the world,” he said.

The Ukrainian government thinks that the fulfillment of the CIS free trade zone agreement signed in St. Petersburg on October 18 would bring $1.2 billion extra to the Ukrainian budget already in 2012. The additional GDP growth is forecasted at 2.2% ($3.8 billion).

 

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