Measures of free barrier-free trade discussed at the 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 Kyrgyz Republic is chairing the CIS bodies. As before, the main topic of the meetings is the elimination of existing barriers, restrictions and exemptions in mutual trade in 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 CIS heads of government 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 further growth of the economies of the countries. It will become a serious incentive to ensure a favorable business climate and attract investment from the Commonwealth countries.

In this aspect, the role of e-commerce within the CIS is increasing. Kazakhstan fully supports the elaboration of the draft Concept of cooperation of the CIS states on the development of interaction 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 help accelerate economic growth.

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