ASTANA, Kazakhstan, September 25. Kazakhstan's exports to Commonwealth of Independent Countries (CIS) countries reached $9.2 billion from January through July 2023, which is 19.4 percent more than the same period last year, Trend reports.
This was stated during the 99th meeting of the CIS Economic Council, where Deputy Prime Minister of Kazakhstan Serik Zhumangarin took part.
As noted at the meeting, the CIS continues to act as an effective platform for deepening integration ties and maintaining multifaceted cooperation between countries. One of the main directions is strengthening trade and economic ties between countries without barriers. The capacious and growing CIS market, large reserves of mineral resources, economic complementarity of member states, significant scientific and technical potential, and the availability of transport routes provide favorable conditions for multifaceted integration in the region.
During the meeting, it was said that transit potential within the CIS is one of the main strategic resources that has a positive impact on the economies of countries and makes them attractive for investment.
"Effective interaction within the CIS countries is largely facilitated by the implementation of the CIS Free Trade Agreement and the Agreement on Free Trade in Services. At the end of the first half of 2023, the trade turnover of the CIS countries amounted to $20.6 billion, which is 4.4 percent higher than in the same period of the previous year ($19.8 billion)," was said at the meeting.
The parties also discussed current issues of economic interaction, reviewed the results of the activities of the CIS industry cooperation bodies in the economic sphere over the past five years, the results of the activities of the Intergovernmental Council for Cooperation in the Field of Veterinary Medicine in 2019–2022, and other issues.