Special regime for investments and free trade between CIS countries

The Federal Law “On Ratification of the Agreement on Free Trade in Services, Establishment, Activities and Investment” signed by the President and adopted by the State Duma on 28 May ratifies the agreement adopted in Sochi on 8 June 2023.

According to the reference of the State Legal Department – this agreement is aimed at creating favourable conditions for the development of the economies of the CIS member states, increasing the volume of joint trade in services, increasing the level of its liberalisation and the possibility of investment by persons from one country in the territories of third countries.

One of the main aspects of the law is the establishment of conditions for free trade in services between Commonwealth countries – this means that barriers to the provision of services between countries will be reduced or eliminated. Companies will be able to freely provide their services in other CIS countries without unnecessary bureaucratic obstacles.

Another important part of the law is the establishment of a special regime for investment between CIS countries. The regime provides more attractive conditions for investors by reducing risks and facilitating investment procedures. Investors will have more guarantees to invest in the economies of other Commonwealth countries.

This law opens new opportunities for the development of economic relations between CIS countries and will contribute to the strengthening of integration processes in the region. Free trade in services and a special regime for investments create a favourable environment for business development and increased economic cooperation.