Putin calls on CIS to reduce dependence on external factors
16.10.2015,
18:58
At a meeting of presidents of former Soviet republics which make the Commonwealth of Independent States (CIS), Russia’s Vladimir Putin asked his counterparts to consider a range of measures to reduce the dependence of their national economies on foreign markets.
YEREVAN, October 16. / ARKA /. At a meeting of presidents of former Soviet republics which make the Commonwealth of Independent States (CIS), Russia’s Vladimir Putin asked his counterparts to consider a range of measures to reduce the dependence of their national economies on foreign markets.
According to Putin, CIS member states are being affected today by a string of negative external factors –such as the fall in prices of some major export commodities, the uncertainty in the global economy and rising political tension in many regions, which lead to a slowdown in economic activity across the CIS whose combined GDP in the first half of 2015 declined, as well as investments in fixed assets and trade turnover.
‘In this situation it is necessary to consider a range of measures to reduce the dependence of our economies on foreign markets and to think about the revival of business relations within the Commonwealth itself, ‘ he said.
Putin recalled also a CIS free trade agreement signed in 2011, saying CIS member states should fully disclose and use its potential and simplify the conditions for the movement of trade and investment flows.
Putin also said that Russia is completing the ratification of the agreement on an integrated CIS currency market, which was signed in Ashgabat in December 2012 by Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan, saying its entry into force will enable member states to conduct coordinated monetary policies and eventually form a common financial market. -0-
According to Putin, CIS member states are being affected today by a string of negative external factors –such as the fall in prices of some major export commodities, the uncertainty in the global economy and rising political tension in many regions, which lead to a slowdown in economic activity across the CIS whose combined GDP in the first half of 2015 declined, as well as investments in fixed assets and trade turnover.
‘In this situation it is necessary to consider a range of measures to reduce the dependence of our economies on foreign markets and to think about the revival of business relations within the Commonwealth itself, ‘ he said.
Putin recalled also a CIS free trade agreement signed in 2011, saying CIS member states should fully disclose and use its potential and simplify the conditions for the movement of trade and investment flows.
Putin also said that Russia is completing the ratification of the agreement on an integrated CIS currency market, which was signed in Ashgabat in December 2012 by Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan, saying its entry into force will enable member states to conduct coordinated monetary policies and eventually form a common financial market. -0-
