OREANDA-NEWS. Uzbekistan joined to agreement on free trade zone of the Commonwealth of Independent states (CIS).

A session of the heads of the governments of the CIS held a session in Minsk, Belarus, on31 May and accession of Uzbekistan to the agreement was registered at this meeting.

During the session, a protocol on implementation of the agreement on free trade zone of the Commonwealth of Independent states among member states and Uzbekistan was inked.

The protocol sets legal mechanisms of interaction of Uzbekistan and member states of the agreement. It sets mechanisms of function of the free trade zone with participation of Uzbekistan. The free trade zone functions based on norms and rules of the World Trade Organization.

The agreement on free trade zone in the CIS was signed in October 2011 and Russia, Belarus, Kazakhstan, Armenia, Kyrgyz Republic, Moldova, Tajikistan and Ukraine are signees of the document. Uzbekistan, Azerbaijan and Turkmenistan expressed wish to consider to accession to the agreement. All countries, except Tajikistan and Kyrgyzstan, ratified the agreement. It is expected that they will ratify the document soon.

The agreement will create necessary conditions for full and effective operation of free trade zone in the CIS and create favourable conditions for further integration base on norms of the World Trade Organization.