CIS Secretary-General Sergey Lebedev noted the growth in mutual trade, high levels of mutual investment, and good results in industry, the agricultural and industrial complex, and other economic sectors. The establishment of the free trade zone, the agreement for which was signed nearly 15 years ago, played a crucial role in developing trade and economic ties among CIS countries.
The Agreement on Free Trade in Services, Establishment, Operation and Investment takes integration to a new level. The document opens up opportunities not only for goods but also for capital, expertise, and, in the future, joint business projects.
The CIS Executive Committee has systematized information on special economic zones, agricultural and industrial parks in the CIS countries, their contacts, specialization, etc. A corresponding section will soon appear on the CIS Executive Committee internet portal, becoming a sort of “navigator” for investors and other business operators seeking growth points.
According to Sergey Lebedev, the CIS countries, primarily due to the opportunities provided by the Interstate Bank, have almost completely transitioned to using national currencies in mutual settlements. Conditions are currently being formed to resolve this matter 100 percent.
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The Agreement on Free Trade in Services, Establishment, Operation and Investment was signed within the Commonwealth of Independent States in 2023. It is currently in force for Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. The necessary procedures are being finalized in Uzbekistan.
The agreement is based on fundamental international treaty practices and aims to create transparent and stable conditions for access to the services, industry, and agriculture sectors of the signatory states, as well as to intensify trade and economic cooperation within the Commonwealth.
Since 2012, a free trade regime for goods has been operational within the Commonwealth.