30 Jul 2012 14:14

Ukrainian parliament ratifies CIS free trade zone agreement

KYIV. July 30 (Interfax) - The Ukrainian Verkhovna Rada ratified the CIS free trade zone agreement with 260 votes at a special session on Monday.

The feasibility study of the draft law "On the free trade zone agreement ratification" posted on the Verkhovna Rada website said that the agreement would have a good effect on the Ukrainian economy and might increase GDP by 2.5%.

"Therefore, just one integral indicator - GDP - will grow by approximately 37.5 billion hryvni. State budget revenues may additionally increase by approximately 9.4 billion hryvni per annum," the document said.