Russian Federation

The Soviet Union Meets Free Trade

Russia has signed a free trade agreement with seven former Soviet Union republics this week in meetings in St. Petersburg. The agreement will put aside import and export tariffs that presently exist between the countries. The countries that have agreed to the agreement are Ukraine, Belarus, Kazakhstan, Armenia, Kyrgyzstan, Moldova and Tajikistan. It is expected that Turkmenistan and Azerbaijan will join the agreement later next year. Russia’s Prime Minister and former president Vladimir Putin headed the conference in St. Petersburg.

This agreement is a large step for the each of the former Soviet republics. Each of the seven countries, except for Ukraine, are members of the Commonwealth of Independent States (CIS) which was formed by eleven countries after the fall of the Soviet Union. Diplomatic relationships between the states have been varied at times and this is seen as a way to stabilize and unit the region. One important part of the agreement is the involvement of Ukraine, which has been trying unsuccessfully to join the European Union for some time. The free trade agreement between the countries is hoped to bring more positive economic and diplomatic relations to the region.

Liberal

http://www.themoscowtimes.com/news/article/trade-pact-draws-kiev-closer-to-russia/445863.html

http://www.bbc.co.uk/news/business-15363770

October 20, 2011 at 10:46 pm