Almost half GUAM countries’ trade turnover accounts for free trade zone

The total volume of foreign trade within the free trade zone among the GUAM countries (Georgia, Ukraine, Azerbaijan and Moldova) amounted to approximately $2.8 billion for the first three quarters of 2012, GUAM website reported on Wednesday.

In January-September, Ukraine exported goods worth $1.5 billion while imports were $300 million.

Azerbaijan's exports totalled $520 million and imports for the reporting period hit $970 million. Georgia exported goods worth $600 million and imported goods worth $900 million. Moldova exported goods worth $100 million and its imports totalled $550 million.

GUAM was established by the post-Soviet countries in 1997 during the EU presidential summit in Strasbourg. In 1999, Uzbekistan joined the organisation and left four years later. A decision was made to rename GUAM as an international organisation 'Organisation for Democracy and Economic Development - GUAM', at the organisation's first summit in Kiev in 2006.


/Trend/