The trade agreement between Abkhazia and South Ossetia, signed on the sidelines of the First International Economic Forum in Tskhinval, will increase trade turnover between the two republics. This was announced by the Abkhaz Economy Minister Teimuraz Mikvabia in the TASS studio during the Forum in Tskhinval.
"The agreement between the governments of Abkhazia and South Ossetia on trade is aimed at developing trade between our republics by eliminating customs duties on imported goods produced in Abkhazia and South Ossetia. By reducing duties, we plan to boost and increase the volume of trade between Abkhazia and South Ossetia," Mikvabia said.
The Minister of Economy noted that trade between the republics had previously existed, but it was indirect.
"Goods from South Ossetia are imported into Russia, some of which end up in Abkhazia, but they are imported marked 'from the Russian Federation.' There is no indication that they were produced in South Ossetia, as no relevant certificate is required. The same applies in the opposite direction. And this agreement will create a condition under which participants in foreign economic activity—Abkhazian and Ossetian producers and their trading partners—will be interested in concluding direct contracts and conducting direct transportation," he has clarified.
