OREANDA-NEWS. September 03, 2012. The government approved a draft law on the ratification of the free trade agreement within the Commonwealth of Independent States. It is to be ratified by the parliament.

This document, signed in St.Petersburg on 18 October 2011, sees the exclusion of the taxes on import and export of many products to the CIS countries.

Economics Minister, Deputy Premier Valeriu Lazar said that the agreement is important for Moldova as it will ensure a stable framework with the CIS states, which are main trade partners for Moldova. "It will exclude the opportunity to appear some possible bans on behalf of the CIS partners", Lazar said.

Lazar said there will be exceptions from the agreement. "We will maintain the taxes with Ukraine on vulnerable products such as: sugar and ethyl alcohol. These exceptions will be excluded gradually", he added.

The agreement will enter into force within 30 days after it is ratified by the parliament.