GUAM Countries Define Priorities of Economic Co-operation

Azerbaijan, Baku / Trend / The key role in achieving the goals of GUAM in the sphere of commercial and economic co-operation of the organization member-countries, should be in consideration with the full realization of the Agreement on the establishment of free trade zones between GUAM participating countries, mentioned in the development strategy of sectoral co-operation of GUAM which was adopted in the GUAM Baku summit.

The priority of the co-operation is portrayed to be: completing formation and ensuring effective functioning on the base of GAAT/WTO free trade zones of GUAM without limitations; approaching and harmonizing legislation in regards to the foreign trade and foreign-trade policy, as well as approaching the legislation while regulating the internal market of the European Union; future development of the co-operation in regards to customs and custom policy; progressive liberalization and creation of conditions for the free movement of the services, investments and workforces; development of specialization and teamwork of the production in the spheres of mutual interest, as well as the base of establishment of international economic organizations and joint ventures; co-operation in regards to the economic policy, budget policy, public finances, financial markets, statistics; development of co-operation in public (State) purchases, intellectual and industrial property rights, competition, industry, scientific researches and technological development, cosmic activities; development of co-operation in regards to the employment, social policy, protection of health and rights of consumers; development of co-operation in regards to agriculture and the fishing economy.

The goals of the co-operation are to establish free trade zones without limitations; cancel customs tariffs and numerous limitations in the mutual trade; eliminate other obstacles for the free movement of the commodities and services; create and develop an effective system of mutual accounts and payments for trade and other operations; eliminate technical barriers in trade; develop trade and investments, which guarantees the sustainable economic development of member-countries; integrate and strengthen the economic potential of the member-countries; assist in developing teamwork and scientific-technical co-operation at the international (inter-sectoral and regional) level and at a level of economic entities, ensure maximally open access of commodities and services to the markets of member-countries; protect interests of the economic entities of the member-countries; assist in attracting investments; follow national legislation during the realization of foreign-economic activities.

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