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Share of settlements in national currencies between Russia and Central Asia reaches 80%

In particular, Mikhail Galuzin noted that the share of settlements between Russia and Uzbekistan in national currencies is 55%, and with Turkmenistan - 24%

UFA, May 14. /TASS/. Share of settlements in national currencies of Russia with Kazakhstan, Kyrgyzstan and Tajikistan reached 80%, Russian Deputy Foreign Minister Mikhail Galuzin said at the opening of the 4th Central Asian Conference of the Valdai International Discussion Club.

"Russia is a reliable and key trade and economic partner for the region, which is confirmed by the consistent growth of trade turnover. Its total volume last year exceeded $44 billion, and 33% of all foreign trade of the Central Asian states falls on Russia. This is largely ensured due to the switch to mutual settlements in national currencies. Now the share of such settlements with Kazakhstan, Kyrgyzstan and Tajikistan has reached 80%," he said.

In particular, Galuzin noted that the share of settlements between Russia and Uzbekistan in national currencies is 55%, and with Turkmenistan - 24%.

Employment of the region's population

Currently, according to Galuzin, the Russian capital provides employment to more than 600,000 people in the Central Asian states.

"The absence of visa barriers, with the exception of Turkmenistan, the presence of a special regulatory framework and the prevalence of the Russian language in the region make the Russian labor market almost no alternative for citizens of Central Asian countries going abroad for work," the diplomat added.

State trade and economic mechanisms

According to the deputy minister, Russia aims the work of mechanisms of trade and economic interaction with the states of Central Asia, including intergovernmental commissions and business councils, at "consistent cooperation in this area, taking into account the fact that the Central Asian region has very positive prospects for economic growth."

"Over the past 20 years of this century, the economic growth of Central Asia exceeded the world average by approximately 2.5 times," he concluded.

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