Uzbekistan to consider creation of free trade zone with Ukraine

04/08/2014 | Economy

Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan will consider a proposal of Ukraine on creation of free trade zone in line with the agreement on creation of free trade zone of the Commonwealth of Independent States (CIS), RIA Novosti reported quoting the source in the Uzbek Government.

The source said that Uzbekistan received the proposal of the Ukrainian side and will consider it. This is long process, he added. The Uzbekistan will consider this proposal only within its current liabilities before the member states of the CIS free trade zone agreement.

Last Friday, Minister of Economy and Trade of Ukraine Pavel Sheremet said that Ukraine plans to create free trade zones with Uzbekistan and Ukraine to expand markets for Ukrainian goods abroad as its trade turnover with Russia is shrinking.

Uzbekistan ratified the protocol in December 2013. President of Uzbekistan Islam Karimov signed a law “On ratification of protocol on use of the agreement on free trade zone from 18 October 2011 between its member states and Uzbekistan (Minsk, 31 May 2013)” on 27 December 2013.

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