SPIEF-2022: Bakhyt Sultanov took part in the panel session "Integration for Development: New Horizons"

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Today, within the framework of the XXV St. Petersburg International Economic Forum, Deputy Prime Minister - Minister of Trade and Integration of the Republic of Kazakhstan Bakhyt Sultanov took part in the panel session "Integration for Development: New Horizons", Delovoy Kazakhstan reports.

The global pandemic, reduced demand and logistical gaps have had a strong negative impact on the business environment. But despite this, over the past 5 years, there has been steady growth in the mutual trade of the Commonwealth countries.

"The intraregional trade turnover of the CIS in 2021 amounted to $115 billion. At the same time, the share of mutual trade of the Commonwealth countries occupies 18% of the total turnover of our states with the outside world," Bakhyt Sultanov said.

Also, according to the results of the four months of this year, there is a positive trend – the trade turnover between Kazakhstan and the CIS countries amounted to about $ 10 billion, which is 10.2% more compared to the same period of the previous year.

According to Bakhyt Sultanov, as Chairman of the CIS, Kazakhstan is confident that the speed and degree of realization of the CIS trade and economic potential directly depend on the consolidation of the efforts of the participating states, including in terms of developing new and effective practical solutions to existing challenges.

For example, the qualitative introduction of digital technologies in industries that directly affect the freedom of movement of goods and services; improving the quality and accessibility of transport infrastructure, ensuring efficient transportation and transit of goods between CIS countries, conducting a coordinated policy in the field of non-tariff regulation.

Also, according to Bakhyt Sultanov, one of the key tasks is to realize the potential of trade in services. The creation of a free trade zone in services within the Commonwealth will be a trigger for increasing economic cooperation between the CIS countries, which will have a positive impact on the growth of the national economies of the participating states.

During his speech, Bakhyt Sultanov also raised the issue of realizing the potential of the CIS countries as logistics hubs in global logistics chains.

"Logistics is changing a lot now. We see that most of the international transit corridors passing through the territory of the CIS countries and previously involved in the European direction are not functioning today. The solution in this situation is the search and development of alternative routes. For example, the reorientation of cargo flows from traditional routes to the Trans-Caspian International Transport Route," Bakhyt Sultanov said.

Summarizing his speech, Bakhyt Sultanov noted that the trade and logistics connectivity of the CIS countries should become a key area of interaction, taking into account the geopolitical and economic situation in the region. Therefore, I invited the participants to make every effort to solve them.

It should be noted that the XXV anniversary International Economic Forum started in St. Petersburg yesterday. It will last until the 18th. Representatives of more than 90 countries will take part.

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