Russia, Kazakhstan to raise share of settlements in national currencies to 75%
"Currently settlements between Kazakhstan and Russia in national currencies account for 63%," he said, adding that the share "may reach 70-75%."
Earlier he said that historically CIS countries and the Eurasian Economic Union (EAEU) member-states rank the first in terms of settlements in national currencies with Russia, virtually followed by China.
First Deputy Prime Minister, Finance Minister Anton Siluanov said that Russia and Kazakhstan continue expanding ties in the financial sector.
"We are talking about integration, and we have very good relations within the EAEU. We are expanding our ties in the financial sector, increasingly move towards settlements in national currencies. We welcome the statement of Kazakhstan's President Nursultan A. Nazarbayev on development of a roadmap to shift to settlements in national currencies within the SCO," he said.
After the meeting of the intergovernmental commission Siluanov told journalists that the plan is to achieve the announced targets within the next 1-2 years.
"Indeed, we encourage our enterprises to pay in national currencies now. Today around 60% of all payments (between Russia and Kazakhstan) are made in national currencies, which is beneficial to our enterprises, our participants of foreign economic activities," he said, adding that the plan is to "bring that indicator to over 70%."
"That is the target for the coming year or two," Siluanov noted.
The intergovernmental commission on cooperation between Russia and Kazakhstan is being held in Kazan on October 25-26. The first day saw meetings of four subcommittees: on trans-regional and cross-border cooperation, on transport, on cooperation in the fuel-energy sector and in the industrial field. The meeting of co-heads from Russia and Kazakhstan, the plenary meeting and the following signing of documents were held on the second day.