YEREVAN. - Armenia’s integration into CIS Free Trading Zone (FTZ) will not hinder European integration, Armenian PM Tigran Sargsyan said at the Parliament. Eight out of eleven CIS states signed FTZ agreement on October 18 in St Petersburg. 

Agreement talks were signed in 1993-94 but were not ratified by Russia thus had no power. Talks resumed two years ago on Russia’s initiative.

“They were called to unite bilateral agreement on free trading, signed previously. Current agreement has more modern terminologies and set of rules,” PM said and added that the agreement does not contradict but compliments Armenia’s responsibility in the World Trade organization.

The document does not hinder the EU integration process, in particular, for the negotiation of an agreement on deep and comprehensive free trade between Armenia and EU.

Regarding Armenia’s integration into United Custom Union of Russia, Belarus and Kazakhstan, PM stated that Armenia currently does not discuss such possibility.

“There are many obstacles. One of them is the lack of common border. International practice does not observe any custom agreement based on such reasons, Sargsyan said.