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FINANCIAL NEWS
Mutual trade between the GCC and CIS at USD 8bn
18 Feb 2016
(MENAFN) Bilateral trade between the Gulf Cooperation Council (GCC) and the Commonwealth of Independent States (CIS) valued USD 8bn in 2014, which grew 20 percent.
Furthermore, the trade is subjected by pairs of countries, especially by Saudi Arabia and the UAE with Russia and Ukraine, as well as by the UAE with Turkmenistan.
Additionally, trade between the GCC and Russia increased by 31 percent through the past five years, which will allow them to make practical engagement on a number of key sectors.
The UAE and Kuwait were the most active GCC nations in making commercial trade agreements with CIS nations, whereas Belarus was the most active CIS state seeking trade with the GCC.
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