Ukraine, Kiev / corr Trend Z.Novosviskiy / The amount of the trade turnover among the GUAM countries in 2006 made up $2bln. This figure in 2007 is forecasted at the level of $3bln and may increase up to $10bln over the next five years, GUAM Secretary General, Valerie Chechashvili, reported to Trend Special Correspondent.
"I think that due to the improvement of the free trade zone mechanism in GUAM countries, this trade will increase with considerable rates," Chechashvili said.
On 23 May 2006 as a result of GUAM Kiev Summit, the President of Ukraine, Victor Yushenka, said that the GUAM participating countries ( Georgia, Ukraine, Azerbaijan and Moldova) established free trade zone.
According to him, during the Summit of State Heads of 'Organization for Democracy and Economic Development - GUAM' in Kiev, factually a free trade zone was established between Georgia, Ukraine, Azerbaijan and Moldova. A Protocol was signed on the Regulation regarding this zone.
In addition, the Ukrainian President said that it is only the beginning because the government of the four countries should resolve concrete issues regarding customs and tariffs, especially in the transport sphere. Yushenka voiced his hope that these targets will be implemented successfully.