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CIS Economic Council approves number of joint projects

21 September 2017 [16:46] - TODAY.AZ

By Sara Israfilbayova

Moscow has hosted the 75th meeting of the Economic Council of the Commonwealth of Independent States (CIS).

The agenda included a wide range of issues of interaction of the CIS countries in the economic sphere. The meeting participants approved the drafts of the Concept of Cooperation of the Commonwealth States in the field of land reclamation and the Concept of Cooperation of the CIS Countries in the field of oil and gas engineering.

Moreover, the protocol on amendments to the agreement on the rules for determining the country of origin of goods in the CIS, the protocol on amendments to the agreement on the harmonization of requirements for additional training and the professional competence of international road carriers of the Commonwealth States was adopted.

The meeting participants discussed the preparations for the census of the population in the Commonwealth states in 2020.

A number of budget, financial and organizational issues were discussed.

The next meeting of the CIS Economic Council is scheduled for December 15.

The Economic Council of the CIS was established in April 1999.The Council is the main executive body ensuring the implementation of agreements adopted within the framework of the CIS, decisions of the Council of Heads of States and the Council of Heads of Government of the Commonwealth on the formation and functioning of a free trade zone and other issues of socio-economic cooperation.

The main functions of the Economic Council of the CIS are developing proposals for the creation of a system of mutual settlements and payments for trading and other transactions; creation of legal, economic and organizational conditions for the transition to higher levels of economic cooperation based on the free movement of goods, services, labor and capital; assistance in the entry of the CIS member states into the world economic system, etc.

The Commonwealth of Independent States (CIS) is free association of sovereign states formed in 1991 by Russia and 11 other republics that were formerly part of the Soviet Union. The CIS’s functions are to coordinate its members’ policies regarding their economies, defense, immigration policies, environmental protection, and law enforcement.

The CIS united Azerbaijan, Armenia, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan, Uzbekistan and Ukraine. However, in 2008 Georgia withdrew its membership.


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