Russia, Kazakhstan may cancel oil export duties within CIS free trade zone

09:36, 22 October 2011

EV. October 22. KAZINFORM Ukrainian Prime Minister Mykola Azarov has said Russia and Kazakhstan have agreed to cancel oil export duties for participants in a free trade zone being created within the Commonwealth of Independent States (CIS); Kazinform quotes RIA Novosti.

"For the first time, we fixed in the agreement the readiness of Russia, as well as Kazakhstan, another oil producing country, to cancel [oil] export duties within a limited period," Azarov said in an interview with Ukraine's Inter TV channel on Saturday.

Russian Deputy Finance Minister Sergei Shatalov said on Thursday Russia could cancel its oil export duties no earlier than 2020.

On Tuesday, the majority of the CIS countries signed an agreement to set up a free trade regime after two decades of debate. The CIS consists of Azerbaijan, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan and Uzbekistan. Ukraine has not ratified the CIS Charter but participates in its activities. Turkmenisan, Azerbaijan and Uzbekistan are yet to decide whether to join the agreement.

Azarov said on Thursday the agreement may come into force in January 2012. It is yet to be ratified by member states.

See http://www.en.rian.ru/ for full version.

Customs Union News Foreign Mass Media about Kazakhstan