CIS Economic Development Strategy Devised

Business Materials 24 October 2008 17:59 (UTC +04:00)

Azerbaijan, Baku, 24 October /corr. Trend N.Ismaylova / "The CIS Executive Secretariat completed devising project of economic development strategy of the CIS countries until, 2020," Sergey Lebedev, CIS Executive Secretary, said at the international banking conference of the CIS participating countries 'Financial markets of CIS: development and integration' in Baku.  

"The project of strategy will be ready and we will present it for approval at the meeting of the CIS Council of Head of Governments, which will take place on 14 November in Kishinev," Lebedev said.

In October 2007 the CIS Heads of State approved the conception of further development of CIS, approved the plan on realization and imposed tasks to devise CIS development strategy for the period until 2020.

Main place in strategy of economic development is assigned to the development and realization of major joint investment and innovation projects, the creation of the effective mechanisms of payment-account relations.

"This is positive, but on the other hand, we became the witnesses of how the crisis, which commenced in the USA and rotted the course of the world economic crisis in the recent months, gathered force, implicating into its destabilizing process of the financial markets and credit-financial institutions of the CIS countries," said the CIS Executive Secretary.

The Agreement on lightening of currency regulation and control in the CIS will also be resented to the consideration of the governments, which will facilitate the access of the resident-banks in the CIS countries.

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