Azarov: FTA agreement with CIS not perfect, but it meets Ukraine's interests

 The agreement on the creation of a free trade area (FTA) within the CIS has points that do not suit Ukraine, but it is in line with the interest of the country.

Ukrainian Prime Minister Mykola Azarov announced this in an interview with Ukrainian TV channels on Friday, the press service of the Party of Regions reported.

"The agreement is not perfect, and it has points that do not suit us... However, in general, it corresponds to our interests and resolves the issue of the development of our economy, and therefore this agreement is positive," he said.

Azarov said that the agreement on the free trade area had been initiated by Ukraine. "It was in the interests of our country to set a clear framework of trade within the Commonwealth [of Independent States] and avoid possible signs of voluntarism," he said.

However, according to the prime minister, people are split in their opinion regarding the need to sign the agreement. "Some people say that it is not advantageous. Others say that it is advantageous. And the truth is always in the middle," Azarov said, adding that the processes preceding the signing of the document were not easy.

"Every country wanted to create the conditions of market protection for its economy and industry," he said.

Azarov also noted that one of the provisions in the agreement, which foresees the introduction of sanctions by CIS member states if one of the parties creates a similar free trade area with other countries, was a common phenomenon.

"This is a common phenomenon... If one of the parties that signed a multilateral agreement has new relations with other partners, who create trade regimes that are not beneficial for the CIS countries, then, of course, consultations are held," he added.

As UKRINFORM reported, the Verkhovna Rada, Ukraine's parliament, ratified the agreement setting up a free trade area with the CIS at its extraordinary session on July 30.