CIS countries sign new agreement on free trade

On October 18, 2011 the leaders of the CIS countries signed a new agreement on free trade in St. Petersburg. This type of agreement had been signed previously in 1994 however it did not work appropriately, though it was ratified by all CIS member countries. As Russian PM Vladimir Putin said this is a new challenge for the CIS which would increase further trade turnover between the CIS countries.