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CIS countries actively switch to national currencies in mutual settlements

«The CIS countries have begun to more actively switch to the national currencies in mutual settlements,» the President of Russia Vladimir Putin said at an informal CIS summit on Monday.

He expressed gratitude to those present for accepting the invitation and coming to the traditional informal New Year’s eve meeting of CIS leaders.

«The fact that we once again gathered in such a friendly circle eloquently testifies to our desire to further jointly build cooperation in the CIS space in the spirit of genuine strategic partnership, mutual benefit and consideration of the interests of all countries. Therefore, I propose to sum up the work of the CIS in 2022 together, talk about plans for the future and discuss issues of concern to all of us on the regional and international agenda,» the head of Russia said.

He also noted that the multifaceted interaction of the states in general developed successfully this year. This confirms the steady growth of trade between the countries and Russia with the CIS. In January-October it increased by 6.6 percent to $81.5 billion. There are reasons to expect that by the end of the year it will reach $100 billion.

«All this is happening against the backdrop of a difficult situation caused by volatility in global markets, unfavorable global economic conditions, as well as sanctions pressure from some countries. Coordinated measures were taken by the Commonwealth, aimed at import substitution and ensuring technological sovereignty, independence, building up joint industrial production and scientific potential. As a result, the economic and financial potential of the CIS has strengthened, internal markets for goods, services and capital have developed dynamically, and regional integration has deepened,» Vladimir Putin stressed.

The President of Kyrgyzstan Sadyr Japarov also participated in the informal CIS summit.