Mian Shakeel Aslam---Russia signed bilateral free trade agreements with seven other former Soviet republics that waste export and import duties on certain goods.
The agreement was announced after a meeting in St. Petersburg. Anothersignatory countries are Ukraine, Belarus, Kazakhstan, Armenia, Kyrgyzstan, Moldova and Tajikistan. No details about what was revealed in the price of the goods. Uzbekistan, Azerbaijan and Turkmenistan may reach the end of this year. Free trade agreements must be ratified by the parliaments of eight countriesthat have not been concluded before the entry into force in 2012. Russian Prime Minister Vladimir Putin said the move should their combined economies 'competitiveness'. Analysts said that the inclusion of Ukraine is significant because countries seeking closer trade relations with the European Union. However, the current government of President of Ukraine Viktor Yanukovich,seen as more pro-Russian than its predecessor. Last week, former Prime Minister of Ukraine Yulia Tymoshenko was jailed for seven years to act beyond its powers to one side of gas in 2009. The European Union said that the lawsuit was politically motivated, but this was denied by Kiev.Posted By: Mian Shakeel Aslam
Source: http://www.bbc.co.uk/news/business-15363770
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