Deputy Prime Minister – Minister of Trade and Integration Serik Zhumangarin took part in the 98th meeting of the CIS Economic Council in Moscow.

This year the Kyrgyz Republic is chairing the CIS bodies. The main topic of the meetings continues to be the elimination of existing barriers, restrictions and exemptions in mutual trade within the perimeter of the Commonwealth. Let us remind that one of the most important recent achievements in this sphere was signing of the Agreement on free trade in services at the beginning of June this year by CIS Heads of Governments. Experts have been working on it for 11 years. The document defines the creation of favorable conditions for further growth of the economies of the countries. It will become a serious stimulus for securing a favorable business climate and attracting investments of the CIS countries.

In this aspect, the role of electronic commerce within the CIS is increasing. Kazakhstan fully supports the elaboration of the draft Concept of Cooperation of the CIS countries to develop cooperation in the field of electronic commerce.

At the end of the meeting the participants recommended the governments of the CIS member states to pay special attention to compliance with the recommended values of the inflation rate and the average annual value of the weighted average rate on long-term loans, which will help accelerate economic growth.

For the four months of this year between Kazakhstan and the CIS countries there is an increase in mutual trade by 8.5% ($ 11.3 billion) compared with the same period of the previous year ($ 10.4 billion).

#International Cooperation #Serik Zhumangarin #Trade