GUAM (Organization for Democracy and Economic Development) is a
regional organization of 4 states: Azerbaijan, Georgia, Moldova and Ukraine.
GUAM Observer countries are
Turkey and Latvia.
The GUAM Business Council facilitates implementation of Agreements
finished within the framework of
Regional Organization for Democracy and Economic Development (GUAM), agreements on development of Cooperation among business circles and business entities of GUAM Participating States.
Free Trade Area between the Regional Organization for Democracy and
Economic Development Participating States (entry into force
Regional Organization for Democracy and Economic Development (GUAM) members countries
should cooperate in establishing free trade area to
- Elimination of customs duties,
as well as taxes and dues having equivalent effect, and of quantitative
limitations in mutual international trade;
- Removal of other obstacles to international trade;
- Establishment and development of efficient system of mutual settlement of
accounts and payments in International trade;
- Cooperation in conducting foreign trade and economic policy to reach
the goals of
Free Trade Area in the: industry, agriculture,
Foreign direct investment (FDI), fair competition....;
- Harmonization of the legislation of the
Contracting members to the extent necessary for proper and
efficient functioning of free trade.
Example of the course GUAM: