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12 November 2021, 14:43

Tentative plans to sign CIS free trade in services agreement in May 2022

MINSK, 12 November (BelTA) – The agreement on free trade in services in the Commonwealth of Independent States (CIS) may be signed in May 2022. Chairman of the CIS Executive Committee, CIS Executive Secretary Sergei Lebedev made the statement after a videoconference session of the CIS Heads of Government Council on 12 November, BelTA has learned.

Finishing the work on the agreement on free trade in services was one of the topics discussed during the videoconference session. According to Sergei Lebedev, it is a very important document and its content is complicated. Free trade in services contributes two thirds of the GDP in developed countries. The same applies to the CIS states. The fact that work on the agreement has been going on for nine years since 2012 indicates the work is complicated, the official said.

In his words, participants of the CIS Heads of Government Council session stated with satisfaction that this work is practically finished.

Experts in charge of working out the agreement met in September 2021 for the last time. They concluded the text of the agreement is finally reconciled and can be presented at the next session of the CIS Economic Council, which is supposed to take place on 2 December 2021. The final document may be signed at a session of the CIS Heads of Government Council in May 2022. Heads of the delegations unanimously backed the CIS Heads of Government Council decision in favor of finishing work on the agreement by May 2022 and signing the document at the next session of the CIS Heads of Government Council under Kazakhstan's chairmanship, Sergei Lebedev said.

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