Free trade zone fetches almost half of GUAM states’ turnover
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.