Thursday, 30 March, 2023

Boost co-op between nat’l payment systems

Putin urges EAEU nations

Boost co-op between nat’l payment systems

MOSCOW: Russian President Vladimir Putin has stressed the importance of expanding cooperation between national payment systems of the Eurasian Economic Union (EAEU) countries for lowering economic risks, reports the TASS.

A consistent reduction of economic risks for mutual trade created by the use of foreign currencies and payment systems seems to be a relevant task. We assume that partners connecting to the financial messaging system of the Bank of Russia and the development of interworking of national payment systems are essential conditions for stable payment relations inside the Union, he said in a message addressed to heads of EAEU members on the occasion of Russia’s chairmanship in the integration in 2023 published on the website of the Kremlin on Monday.

The harmonisation of financial markets should create favorable conditions for making sure that the capital of countries remain inside the integration and is invested in national economies, Putin noted.

Moreover, we consider it reasonable to explore the possibility of establishing a Eurasian rating agency that would provide rating instruments for servicing the growing economic activity on the territory of our macro region, he added.