OREANDA-NEWS. October 21, 2011. The setting up an FTA in the Commonwealth of Independent States will allow Ukraine to substantially improve the balance of payments. The Head of the Ukrainian Government Mykola Azarov has declared it during a meeting of the Interstate Council of Eurasian Economic Community.

The Prime Minister has stressed that the negative balance of our trading balance now constitutes about 6 billion dollars. Thus, he has underlined that the Government takes all necessary measures for situation improving. In particular, it will be facilitated by signing of the agreement on setting up of free trade area within the limits of the CIS, the European Union and other countries of the world that will allow mastering the new markets for the domestic goods and services.

"We take a number of measures - under the current account with us "plus", but here on trading balance, we have still while, unfortunately, "minus." Of course, we strive to improve this situation that to the next year to reach a positive balance of our trading balance," Mykola Azarov has noted.

The Head of the Ukrainian Government has underlined that the development of domestic economy is influenced by circumstances of deep crisis in which Ukraine was in 2008-2009. Mykola Azarov has reminded that in 2009, Ukraine has lost more than 15 % of GDP and 4 times the guaranteed public debt was increased, and central government budget deficit exceeded 18 %. "These problems have determined the reduction character of development of economy in 2010-2011. For 2010 our GDP has grown by 4.5 % and for 9 months of this year approximately 5.3 %. As a whole, the situation at us is stable, and the rate of growth giving optimism to us," the Prime Minister has noted.