OREANDA-NEWS. September 12, 2012. Ukraine and the Eurasian Economic Commission have signed the Memoranda of trade and economic cooperation and cooperation in the field of technical regulation.

The documents have been signed by the Prime Minister of Ukraine Mykola Azarov and Chairman of the Board of Eurasian Economic Commission Viktor Khrystenko.

"For a successful development of our countries it's very important that we have agreed and established the cooperation between Ukraine and the Eurasian Economic Commission as a permanent acting body of the Customs Union and Common Economic Area," Mykola Azarov said.

Meanwhile, he noted Ukraine would like to be permanently represented in the Eurasian Economic Commission and participate in its meetings on the rights of an observer. "We would like to offer you to consider the representation of Ukraine in Eurasian Economic Commission and express our desire to participate in its work on the rights of an observer," the Prime Minister emphasized.

Thus, he added Ukraine wants to accredit at Commission of its permanent representative observer who would work in the Embassy of Ukraine in the Russian Federation.

However, the PM disclosed that the signing these two memoranda would reduce risks in mutual trade, introduce clear rules in trade and economic relations between Ukraine and the Customs Union. According to him, the observance of strict technical regulations stipulated in the signed documents on September 10, will make it impossible the introduction of a number of non-competitive practices of restrictions in mutual trade.

At this there has also been aimed an agreement on free trade area between the CIS countries, which will soon enter into force.

In turn, Mr. Khrystenko informed the Ukrainian Government Head that the Eurasian Economic Commission has received applications from 35 countries about the desire to establish a free trade regime with the Customs Union.