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Ukraine nixes CIS free trade treaty

      RBC, 04.04.2012, Kiev 13:17:40.Ukraine does not intend to ratify the CIS free trade zone treaty, arguing that the current wording differs significantly from the initial version signed by eight CIS countries on October 18, 2011, RBC Ukraine reports.

      The presidential administration pointed to some 50 new products on which customs duties are levied and that were not included in the initial version, claiming that it gives Russia certain advantages. Ukraine is currently negotiating this issue with Russia and will ratify the agreement once all issues are settled, a source said.

      Ukraine has also voiced misgivings over an attachment to the treaty, which was not included in the initial treaty and introduces penalties for signing free trade agreements with third parties, while Ukraine and the EU are currently preparing to enter into a similar treaty.

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