Kyiv has called on countries that have not signed the agreement on the establishment of a free trade zone within the CIS to do it.
"Putting the CIS Free Trade Zone into operation will have a positive impact both on Ukraine and all of the member countries of the commonwealth, including those that have not signed this agreement. We call on them to sign it," Valeriy Muntiyan, the Ukrainian government’s envoy for cooperation with Russia, CIS member countries, the Eurasian Economic Community and other regional associations, said during a TV linkup on Friday.
Kyiv performed an economic simulation of possible situations following the creation of a free trade zone within the CIS, he said.
"If this agreement actually comes into force, it will primarily lead to a potential increase in foreign trade from 30% to 45% if all restrictions are lifted," Muntiyan said.
The document will also help boost cooperation between CIS member states, will benefit individual industries, and will help form a harmonized foundation of regulatory and legal acts, he said.
The enactment of the agreement will allow Ukraine to increase its gross output, GDP and budget revenue, he added.
