Ukraine terminates three economic agreements within CIS

Ukraine terminates three economic agreements within CIS

Ukrinform
The Cabinet of Ministers, on the initiative of the Ministry of Economic Development and Trade of Ukraine, has approved the decision to terminate three agreements on economic cooperation signed as part of the Commonwealth of Independent States (CIS), the ministry's press service has reported.

"This is the agreement on the interstate exchange of economic information, the agreement on exchange of information in the field of foreign economic activity and the agreement on cooperation in the field of foreign economic activity," the report says.

It notes that a respective draft resolution was drawn up by the Ministry of Economic Development and Trade to implement the presidential decree on the decision of the National Security and Defense Council of Ukraine of May 2, 2018 regarding the termination of certain international treaties concluded by Ukraine within the Commonwealth of Independent States.

According to the report, the agreement on the interstate exchange of economic information, which was signed in Minsk on June 26, 1992, and the agreement on exchange of information in the field of foreign economic activity, which was signed in Moscow on September 24, 1993, provided for the establishment of an exchange of relevant economic information and statistical data among CIS member states.

After the analysis of these agreements, the Ministry of Economic Development and Trade and other government agencies came to the conclusion that in modern times, these agreements have already lost their practical value and are not applicable since the necessary and potentially useful economic information is available on the official websites of executive government agencies of Ukraine and relevant international organizations Ukraine is a member of.

The third international agreement within the CIS, the effect of which has now been terminated for Ukraine by the Cabinet of Ministers, is the agreement on cooperation in the field of foreign economic activity, which was signed in Tashkent on May 15, 1992. This document envisaged that the CIS countries would jointly coordinate their policies and cooperate in the implementation of foreign economic activities with third countries and international organizations. The agreement also defined the need for consultations among CIS countries to establish contacts and conduct negotiations on membership in other international economic and financial organizations.

"However, Ukraine currently has a number of priority commitments in the field of international trade as a member of the World Trade Organization (WTO), as well as as part of the Association Agreement with the EU, and a number of clauses of the agreement on cooperation in the field of foreign economic activity within the CIS contradict these commitments. In order to overcome this contradiction, the effect of the said agreement has been terminated for Ukraine," the ministry said.

According to a Ukrainian government decision, the Ukrainian Foreign Ministry should inform the CIS Executive Committee about the termination of the three agreements for Ukraine, the ministry added.

On January 10, Ukraine terminated the agreement on the development of exhibition and fair activities in the CIS.

On May 2, 2018, the National Security and Defense Council of Ukraine endorsed the proposals to end Ukraine's participation in the activities of the CIS coordinating bodies. The NSDC also instructed the Ukrainian Foreign Ministry to take measures in accordance with the established procedure regarding the termination of certain intergovernmental agreements.

On May 19, 2018, President Petro Poroshenko signed the decree on the decision of the National Security and Defense Council of Ukraine of May 2, 2018 regarding the termination of certain international treaties concluded by Ukraine within the Commonwealth of Independent States.


Let’s get started read our news at facebook messenger > > > Click here for subscribe

While citing and using any materials on the Internet, links to the website ukrinform.net not lower than the first paragraph are mandatory. In addition, citing the translated materials of foreign media outlets is possible only if there is a link to the website ukrinform.net and to the website of a foreign media outlet. Citing and using materials in offline media, mobile apps, Smart TV are allowed only with written permission from Ukrinform. News and publications marked as "Advertisement" and "PR" and articles in the section "Releases" include promoted content, and an advertiser is responsible for the content.

© 2015-2019 Ukrinform. All rights reserved.

Website design Studio Laconica

Extended searchHide extended search
By period:
-