Additional revenues of Ukraine may near Hr 9.5 billion in the first year of operation of the CIS free trade zone agreement, Ukrainian Prime Minister Mykola Azarov told the cabinet on Thursday.
"Ukraine’s foreign trade may grow a lot in 2012 and an extra GDP growth may amount to approximately 2%. We estimate additional revenues of the state budget at about Hr 9.5 billion in the first year of operation of this agreement," he said.
Azarov recalled that the CIS prime ministers agreed to ratify the agreement before the year-end so that it could enter into force on January 1, 2012.
"A huge free trade zone has appeared in Europe. This is a unique zone, which integrates resources of Europe and Asia," the premier said.
He compared the new trade zone with those of South America, Latin America and the Asia Pacific region.
The Ukrainian signing of the CIS free trade zone agreement does not disagree with its plans to sign a similar document with the European Union, Azarov stressed.
