On October 8th, at the Commonwealth of Independent States (CIS) summit, Russian President Vladimir Putin announced that the share of national currencies in commercial operations among member countries had exceeded 85. The Russian leader emphasized the importance of cooperation within the CIS framework as a top priority for Russia’s foreign policy.
Putin reiterated the organization’s commitment to combating terrorism, extremism, organized crime, drug trafficking, and corruption. He also expressed support for the creation of an association of volunteer organizations and annual volunteer forums. According to Putin, the influence of the CIS as a regional integration association has been steadily increasing, with member states working together on mutual understanding, equality of rights, and good-neighborliness principles.
During the first half of 2024, the combined GDP of CIS countries experienced a growth rate of 4.7. This year, Russia is chairing BRICS, which Putin describes as gaining momentum and becoming increasingly attractive to many countries worldwide. Establishing close cooperation with BRICS, he argued, aligns with the interests of all CIS member states.
In summary, the CIS summit highlighted the progress made by member countries in fostering regional integration and tackling various challenges facing the region. President Putin’s commitment to strengthening cooperation within the CIS and close ties with BRICS signal a promising outlook for further development and growth among these countries.