Ukraine

Heads of CIS states, including Ukraine, concluded a free-trade zone agreement in October, creating a customs union between Armenia, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan and Ukraine. Armenia, Kyrgyzstan, Moldova and Ukraine are already members of the World Trade Organization (WTO), whose rules do not prohibit FTZs. Ukraine President Viktor Yanukovych signed the FTZ on the day after the EU disinvited him from a planned visit following the jailing of former Prime Minister Yulia Tymoshenko, and we believe there will now be increasing pressure on the EU to try and bring Ukraine back to the table.

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