Uzbekistan enters CIS free trade zone

Photo: Uzbekistan enters CIS free trade zone / Uzbekistan

Tashkent, Uzbekistan, April 3

By Demir Azizov- Trend:

Russian President Vladimir Putin has signed a law on ratification of the protocol on the application of the agreement on free trade area (FTA) between the parties to this agreement and Uzbekistan, according to the website of Russian president.

The law was adopted by the Russian State Duma and approved by Russia's Federation Council in March 2014.

The law was adopted by the Legislative Chamber of Uzbekistan's Oliy Majlis (the lower house of Uzbek parliament) in late November 2013 and was approved by the Senate in December.

Uzbek President Islam Karimov signed the law in late December 2013.

The protocol was worked out for more active involvement of Uzbekistan in cooperation within the CIS, as well as for unification of the trade regimes of the union's countries with Uzbekistan.

The agreement envisages the non-use of import duties in mutual trade between the countries of the Customs Union and Uzbekistan.

Translated by L.Z.

Edited by S.I.

Follow us on Twitter @TRENDNewsAgency