FRADKOV SAYS MORE WORK ON CREATION OF CIS DEVELOPMENT BANK NEEDED

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ASTANA, October 8 (RIA Novosti)-More work is needed on the issue of establishing a development bank for CIS countries, Prime Minister Mikhail Fradkov said in Astana, while speaking about the results of his talks with Kazakh President Nursultan Nazarbayev.

"The question of whether the CIS development bank will be set up on the base of Mezhgosbank or a new bank is currently being decided," Mr. Fradkov said.

"We have not made the final decision," he said, "the question requires further work and I hope that we will come to a decision shortly."

Asked by journalists how the talks with Kazakhstan's president went, Mr. Fradkov said they were useful and important for mutual cooperation.

"We confirmed the high level of our cooperation and agreed on a way to decide the questions about further interaction," Mr. Fradkov said. "Our cooperation meets all the necessary requirements, and today we approved the plan of cooperation until the end of the year."

Asked if there were contentious aspects of the conversation, which lasted more than two hours instead of forty minutes, Mr. Fradkov said: "There were no contentious questions, we discussed all outstanding issues earlier with Kazakh Prime Minister Danial Akhmetov."

Mr. Fradkov's visit to Kazakhstan is over and he is returning to Moscow Friday night.

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