Tuesday, August 5, 2014

ITAR-TASS: Economy - Russia plans to suspend free trade agreement with Georgia

MOSCOW, July 30, /ITAR-TASS/. Russia plans to suspend the 1994 agreement on free trade with Georgia which signed an association agreement with the European Union.

Association agreements were signed at the end of July with Georgia and Moldova, and the economic part of the association agreement with Ukraine. Documents point to harmonisation of the three countries’ laws to align with European legislation and establishment of a free trade zone with the European Union.

Russian Prime Minister Dmitry Medvedev said with this in view that Russia could take measures to protect its economy as Georgia, Ukraine and Moldova are also in a zone of free trade with Russia.

Earlier reports on Wednesday said the Ministry of Economic Development had drafted a government instruction to impose import duties on goods from Ukraine.

Import duties are to be paid, on 130 items, in particular on beef, pork, cheeses, farmer cheese and chocolate, as well as pipes, clothes, cosmetics, construction materials, cars and other goods.

Complete story at - ITAR-TASS: Economy - Russia plans to suspend free trade agreement with Georgia

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