AGREEMENT

of April 15, 1994

About creation of the free trade area

The State Parties of this agreement, the Contracting Parties which further are referred to as, confirming the commitment to free development of mutual economic cooperation, implementing the principles of market economy in practice, being effective in the direction of consecutive realization of provisions of the Agreement on creation of Economic union (on September 24, 1993, Moscow), creating conditions for free movement of goods and services, providing balance of mutual trade and stabilization of domestic economic situation of the participating states, promoting growth of economic capacity of the State Parties on the basis of development of mutually advantageous cooperation bonds and cooperation, being guided by aspiration to permanent increase in level of living of the population of the states, proceeding from phasing of creation of Economic union, entering the Agreement on creation of the free trade area, further referred to as - the Agreement, agreed as follows:

Article 1. General provisions

1. Contracting parties for goal achievement of this agreement will provide interaction in the solution of the specific objectives of creation of the free trade area directed on:

cancellation of customs duties, and also the taxes and fees having with them equivalent action and quantitative restrictions;

elimination of other obstacles for free movement of goods and services;

creation and development of effective system of mutual calculations and payments on trading and other activities;

cooperation in carrying out trade and economic policy for goal achievement of this agreement in the field of the industry, agricultural industry, transport, finance, investments, the social sphere, and also in development of fair competition, etc.;

assistance of cross-industry and intra-branch cooperation and to sci-tech cooperation;

harmonization and (or) standardization of the legislation of Contracting Parties in that measure in what it is necessary for proper and effective functioning of the free trade area.

2. This agreement is applied on customs areas of Contracting Parties as they are determined by their national legal system.

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