Russian President has stressed the importance of expanding cooperation between national payment systems of the Eurasian Economic Union (EAEU) countries for reducing economic risks.

Iran PressEurope: Vladimir Putin addressed the heads of EAEU members on the occasion of Russia’s chairmanship in the integration in 2023, which was published on the Kremlin’s website on Monday.

"A consistent reduction of economic risks created by the use of foreign currencies and payment systems for mutual trade is seen as an urgent task. We believe that connecting partners to the Bank of Russia's financial messaging system and developing inter-system cooperation between national payment systems is an indispensable condition for stable settlements within the Union," he said.

"Harmonization of financial markets should create favorable conditions for the member states' capital to remain within the union and for it to be invested in the national economies. We also consider it advisable to examine the possibility of creating a Eurasian rating agency that would provide evaluation tools to service the growing economic activity in our macro-region," the address reads.

Further deepening of integration interaction will also largely depend on the alignment of competitive conditions for Union enterprises, including through the convergence of tax regulation, the introduction of advanced methods of tax administration, and the unification of customs procedures using a risk management system at our external borders, according to the Russian president.


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