Free trade zone in CIS countries

8 CIS countries, Russia, Kazakhstan, Belarus, Armenia, Kyrgyzstan, Moldova, Tajikistan and Ukraine, plan to abolish import taxes in their mutual trading. However they plan to retain export taxes at their existing levels.

The only countries which have refrained from joining this arrangement so far are Azerbaijan, Turkmenistan and Uzbekistan. All of these are oil and gas exporting countries. However Kazakhstan, which is also an oil and gas exporting country, and Russia wish to become members of this union.

Ukraine’s Deputy Minister of Economy Valery Mulkianu has stated that this is the first stage of further integration, targeting economic and currency union. The creation of free trade zones could result in other CIS countries entering the Belarus, Kazakhstan and Russia customs union.