St. Petersburg, Dec 26 (IANS) The growth of gross domestic product (GDP) of the Commonwealth of Independent States (CIS) members will reach 4.7 per cent this year, Russian President Vladimir Putin said at an informal CIS summit held in Leningrad Oblast.
“The macroeconomic indicators of our countries have improved significantly. Thus, by the end of 2024, the growth of total GDP of the Commonwealth countries is projected to reach 4.7 per cent,” Putin said Wednesday. He described the figure as “higher than the world average.”
Russia’s trade turnover with other CIS members in January-October increased 10.6 per cent and amounted to more than 93 billion USD, the president noted, adding that in the 10 months, the industrial production of CIS countries rose 4.3 per cent, the volume of cargo transportation went up 7.4 per cent, and retail sales added by 7.7 per cent, Xinhua news agency reported.
According to him, cooperation in financial and monetary fields is being strengthened among the CIS members, and independent payment systems and settlement instruments are increasingly being used to facilitate mutual economic transactions.
The share of national currencies in the settlements of commercial transactions between the Commonwealth members has exceeded 85 per cent.
Russia is chairing the CIS this year. Putin recalled that during Russia’s chairmanship period, priority was given to deepening economic cooperation, ensuring free movement of goods and services, eliminating trade barriers and simplifying customs procedures.
“Russia’s main efforts as the CIS chair were aimed at developing integration in the Eurasian space and strengthening the international authority of the Commonwealth,” said Putin.
“Priority was given to deepening economic cooperation, ensuring the free movement of goods and services, eliminating trade barriers, and simplifying customs procedures,” the Russian president added.
–IANS
int/rs
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
