BISHKEK (Sputnik) — Member states of the Eurasian Economic Union (EEU) must increase the use of national currencies in settling mutual trade transactions, Kyrgyzstan's Vice Prime Minister Aaly Karashev said on Saturday.
"We must pay more attention to issues of currency regulation, including widening the possibilities for national currency circulation on EEU markets and using them to conduct mutual transactions between our countries," Karashev told RIA Novosti.
Kyrgyzstan's trade with other EEU countries amounted to around 40 percent of total foreign trade in 2015, Karashev stressed, adding that members of the union must deepen cooperation in the common energy market, in industry and in government procurement.
The EEC replaced the looser integrated Eurasian Economic Community in January 2015. The union comprises Kyrgyzstan, Armenia, Belarus, Kazakhstan, and Russia. The EU-style bloc aims at greater economic integration between its member states, including a streamlined flow of goods, services, capital and labor.