Ukraine drifts towards Russia’s economic projects
July 30, the Verkhovna Rada of Ukraine adopted a new law effectively ratifying
the Free Trade Zone Agreement with the Commonwealth of Independent States, an
agreement which already covers most of the former Soviet Union.
law was preliminarily signed by Prime Minister Mykola Azarov back in October
2011. In the government’s opinion, the free trade zone with the CIS will secure
a 2.5 percent growth of gross domestic product and a 35 percent increase in
sales volume between Ukraine and other member-countries. The government also
expects an additional annual budget revenue of Hr 9.4 billion ($1.2 billion).