Ukraine initiates termination of free trade agreement with Belarus

The Cabinet of Ministers of Ukraine initiated the termination of the intergovernmental free trade agreement with Belarus at a meeting on Friday, said the Ministry of Economy, Report informs.

The government approved a draft law that terminated the free trade agreement between the governments of Ukraine and Belarus and some other documents that provided for free trade between the countries and exemptions from such a regime.

The draft law will now be submitted to the Verkhovna Rada (Ukrainian Parliament) for consideration.

"It is clear that there has been no trade between Ukraine and Belarus, for almost two years now. With these decisions, we are only bringing the legal framework in line with today’s realities," commented Taras Kachka, Deputy Minister of Economy and Trade Representative of Ukraine.

The Free Trade Agreement between Ukraine and Belarus has been in force since 1992.