This fall Armenia will ratify the Free Trade Area agreement in the framework of CIS, Armenian and Russian parliament speakers said.

“I was pleased to learn that Armenian authorities have already developed documents on Free Trade Area agreement, with the latter to be ratified at RA National Assembly’s fall session,” State Duma speaker Sergey Naryshkin said.

“We hope Armenia will become the third country to ratify the document after Russia and Belarus,” the official said.

The prime ministers of the Commonwealth of Independent States (CIS) member states signed a free trade agreement on October 18, 2011.

The agreement eliminates export and import duties on a host of goods. It also contains a number of exemptions that will ultimately be phased out.

The agreement was signed by all the CIS states except Azerbaijan, Uzbekistan and Turkmenistan.