Kazakh Minister of Trade and Integration takes part in the 98th meeting of CIS Economic Council

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 CIS bodies are chaired by the Kyrgyz Republic. As before, the main topic of the meetings is the elimination of existing barriers, restrictions and exemptions in mutual trade within the perimeter of the Commonwealth countries.

Recall that in this vein, one of the most important recent achievements was the signing in early June of this year by the heads of government of the CIS of the Agreement on Free Trade in Services, on which the experts of the countries have been working for 11 years.

The document defines the creation of favorable conditions for the further growth of the economies of the countries. It will become a serious incentive to ensure a favorable business climate, attract investment from the Commonwealth countries.

In this aspect, the role of e-commerce within the CIS is increasing. Kazakhstan fully supports the development of the draft Concept of Cooperation of the CIS States on the Development of Cooperation in the Field of Electronic Commerce.

Following the meeting, the participants recommended that the governments of the CIS member states 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 contribute to accelerating economic growth.

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

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