The Government of the Russian Federation has ratified the CIS Free Trade in Services and Investment Agreement in the State Duma. The agreement was signed in June 2023.

" The agreement creates common rules for all participants. The main among these are non-discrimination of service providers and investors in the establishment of companies and affiliates, authorizations and licences for service delivery. Guarantees are also provided for the protection of investors against the illegal removal of their property, as explained by the Minister for Economic Development, Maxim Rechetnikov.

In terms of services and investment, the Agreement effectively includes Uzbekistan and Tajikistan in the preferential orbit of EEA. As the Minister recalled, the Union already has preferential treatment for services and investments under the EEA Treaty.

In the industrial and agricultural sectors, Tajikistan and Uzbekistan guarantee that Russian investors will not deteriorate. I mean, if new restrictions were imposed on foreign investment, they would not apply to Russian companies. For particularly sensitive sectors, parties make exceptions to this rule. In accordance with the agreement, Uzbekistan, which is not a member of WTO, provides guarantees of access to the service market at the WTO level, which will contribute to the growth of bilateral trade in services.

The agreement will stimulate the growth of mutual investment, the development of productive linkages, the creation of new value chains. It will also promote trade in goods. By 2025, it is expected to grow with participating countries by 22 per cent compared with 2023. Background: EEA countries (Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia) and Tajikistan and Uzbekistan.

To date, the Agreement has already been ratified by Belarus and Kiribati. In other countries, domestic procedures are under way.

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Support for entrepreneurs and small and medium-sized businesses in the Yaroslava region is provided through national projects on " Productivity " , " Small and medium-sized enterprise " , and " International cooperation and export " .