Another meeting of the Economic Council of the Commonwealth of Independent States was held in Moscow under the chairmanship of the Vice-President of the Russian Government, Alexei Overcuc.

The meeting addressed a wide range of issues of economic cooperation - removal of existing obstacles to mutual trade, development of economic cooperation and a number of financial issues, including the draft consolidated budget for the CIS bodies for 2025.

" The Commonwealth is a unique platform for strengthening trade, economic and sectoral cooperation, and for maintaining and promoting dialogue in virtually all areas of international relations in the post-Soviet area, underlined by Vice-Prime Officer Alexei Overchuk. - The development of the Commonwealth in the current circumstances requires flexibility and adaptiveness on the part of States parties, as well as readiness for new forms of cooperation, analysis of problems and harmonization of joint action. "

According to the Deputy Minister for Economic Development of Russia, Dmitri Volvacha, the CIS countries have been and remain key partners of Russia. Their share in Russia ' s foreign trade is steadily increasing. " Russia ' s share of external trade in the CIS increased to 14.6 per cent in the first half of 2024. This figure has already increased to 16 per cent. Russia ' s trade with CIS countries increased by 5.8% in 2023 and 6.7% in 6 months this year. Our main partners, Belarus, Kazakhstan and Armenia, have brought data from the Deputy Minister. - All these figures show that the Commonwealth of Independent States is a strong and sustainable integration unit. "

The Parties considered the activities of the Aviation and Aircraft Council, the Interstate Aviation Committee and the CIS Coordinating Transport Meeting, whose activities are aimed at ensuring the safety of flights, training and upgrading of aviation specialists, development of transport infrastructure, regulatory frameworks, promotion of transboundary technologies and expansion of logistics services.

The meeting featured a presentation of the spatial data portal of Commonwealth member States, based on domestic technologies. By 1 January 2025, the CIS Geoportal will become a single information platform for the search, dissemination, systematization and optimization of qualitative, reliable, legally relevant and standardized spatial data and services on their basis.

A large number of issues related to the financing of CIS bodies and programmes in the Commonwealth.

Commenting on the outcome of the meeting, Dmitri Volvac also recalled the important role of the Agreement on Free Trade in Services, Establishment, Activities and Investment, which had been in force in Russia since July 2024. " The practical application of the agreement provides additional opportunities for enhancing trade and economic cooperation between our countries, thus creating conditions for the growth of CIS economies and the improvement of the welfare of citizens, he noted. - I am sure that the objectives and tasks planned for the year of the Russian presidency of the CIS will strengthen the foundations for our mutually beneficial cooperation in all aspects of Commonwealth activities. "

During the meeting, the heads of delegation of the Commonwealth adopted a plan of action for the implementation of the agreement on the transboundary movement of radioactive materials in CIS countries. In addition, the meeting endorsed the draft memorandum of cooperation between CIS countries on the digital transformation of the transport complex, agreements on cooperation in the development of civil navigation and the production of ship ' s equipment, programmes to promote cooperation among CIS countries in the study, use, protection and monitoring of groundwaters for the period up to 2030 and a draft plan for its implementation. These draft documents are scheduled to be signed at an early meeting of the CIS Council of Heads of Government.

The next meeting of the CIS Economic Council is scheduled for 29 November 2024 in Moscow.

Source: economy.gov.ru
Source: freepik.com

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