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Trade turnover of Kazakhstan, other CIS countries increases

Business Materials 1 June 2019 14:18 (UTC +04:00)

Baku, Azerbaijan, June 1

By Nargiz Sadikhova - Trend:

The trade turnover between Kazakhstan and other CIS (Commonwealth of Independent States) countries displays positive dynamics and has increased by 8.4 percent in 2018, Trend reports via press office of the prime minister of Kazakhstan.

Prime minister of Kazakhstan Askar Mamin made the remarks at the meeting of Council of Heads of CIS Government in narrow and expanded form of the council in Ashgabat, Turkmenistan.

The main topics of the meeting in the expanded form of the council were expansion of innovative cooperation, protection of the rights of the objects of intellectual property, increase of cooperation effectiveness in transport, logistics and tourism spheres, development of digital economy, realization of the projects in space sphere.

“Markets of CIS countries are traditionally among Kazakhstan’s priorities,” Askar Mamin said.

“In 2018 the trade turnover between Kazakhstan and CIS countries amounted to $24.3 billion which is an increase of 8.4 percent, compared to the previous year,” he elaborated.

To further integrate and strengthen trade and economic relations between CIS countries the importance of improving the regulatory framework was highlighted. The signing of Agreement on Free Service Trade which is to take place in the near future will allow to increase the service turnover between countries.

Mamin named joining forces in cooperation of output volumes, increasing the transport and logistics potential, formation the relevant digital agenda, development of human capital and improvement of investment climate in the region among measures to increase qualitative growth via development of integration.

The Executive Committee was offered to further examine these offerings and to take them into consideration within the framework of developing Concept of Further Development of the CIS and 2030 CIS Strategy on Economic Growth.

(1USD = 383.31 KTZ on June 1)

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