MINSK, 25 June (BelTA) - The growth of mutual investments will ensure the economic security of the CIS countries, CIS First Deputy Secretary General Leonid Anfimov told reporters before a meeting of the CIS Council of Permanent Plenipotentiary Representatives in the CIS Executive Committee in Minsk, BelTA has learned.
The CIS Council of Permanent Plenipotentiary Representatives convened for a meeting in the CIS Executive Committee in Minsk to discuss mutual investments in the CIS states in the context of the agreement on free trade in services, establishment, operations and investment.
"Foreign direct investment is currently the engine of economic growth, technological development of our countries. Given that the Republic of Belarus and the Russian Federation have been subjected to tough economic sanctions by Western countries, which were once the main partners in many types of economic activity, I believe that an increase in mutual investments will ensure the economic security of our states," Leonid Anfimov said.
"To date, the volume of foreign direct investment in the CIS countries has amounted to $45.6 billion," Leonid Anfimov added. “It seems to be a large figure, on the one hand. On the other hand, if you spread it across countries and take into account the scale of the Russian economy, this is not a very large figure. As an economist, I believe that in order for us to function normally and not depend on anyone from the West, the volume of these investments should increase at least tenfold."
The CIS Council of Permanent Plenipotentiary Representatives convened for a meeting in the CIS Executive Committee in Minsk to discuss mutual investments in the CIS states in the context of the agreement on free trade in services, establishment, operations and investment.
"Foreign direct investment is currently the engine of economic growth, technological development of our countries. Given that the Republic of Belarus and the Russian Federation have been subjected to tough economic sanctions by Western countries, which were once the main partners in many types of economic activity, I believe that an increase in mutual investments will ensure the economic security of our states," Leonid Anfimov said.
"To date, the volume of foreign direct investment in the CIS countries has amounted to $45.6 billion," Leonid Anfimov added. “It seems to be a large figure, on the one hand. On the other hand, if you spread it across countries and take into account the scale of the Russian economy, this is not a very large figure. As an economist, I believe that in order for us to function normally and not depend on anyone from the West, the volume of these investments should increase at least tenfold."
