Intra-regional trade among the Commonwealth of Independent States (CIS) countries grew by 8% in 2024, surpassing 10 trillion rubles in total volume. The figures were shared by CIS Deputy Secretary General Ilkhom Nematov during the 11th meeting of the CIS Industrial Policy Council, held in Dushanbe.
"I’m pleased to note that the economies of CIS member states are showing steady growth. Mutual trade is increasing consistently, and both the geographic and sectoral scope of cooperation are expanding," said Nematov. "According to the CIS Statistical Committee, GDP across the CIS grew by 4.5% last year, while internal trade rose by 8%, exceeding 10 trillion rubles."
Nematov attributed much of this economic momentum to industrial production, which grew by 4.6% in 2024. He noted particularly strong performance in manufacturing, which expanded by 8.5%.
He also announced that, on June 5, during the upcoming meeting of the CIS Council of Heads of Government in Dushanbe, member states will sign a new cooperation agreement focused on the development of the heavy machinery sector — an initiative proposed by Tajik President Emomali Rahmon.
Additionally, Tajikistan’s Minister of Industry and New Technologies, Sherali Kabir, was elected Chair of the CIS Industrial Policy Council, following a nomination from Nematov.
Earlier, CIS Secretary General Sergey Lebedev emphasized a key strength of trade within the CIS: nearly 90% of transactions are settled in national currencies, reducing dependence on foreign exchange. He added that trade among members of the Eurasian Economic Union (EAEU) continues to grow most dynamically.
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Photo: Russian Foreign Ministry
Based on TASS materials