Strengthening Economic Cooperation of the CIS Countries

The main objectives of the article are to provide a snapshot view of the present state of economic cooperation in the CIS countries and to identify areas for strengthening inter-country cooperation between them. The article analyzes the experience of the CIS countries' transformation from centrally planned to market economies. It is also devoted toanalysis of the most important areas of market reforms including macroeconomics, international trade, foreign direct investment and transport infrastructure. The authors display major opportunities for mutual cooperation among countries, the need to overcome the arising contradictions and expand neighborly cooperation for the benefit of the population in the CIS countries. The article notes that a strong political and administrative commitment to initiate coordinated national actions is crucial to accelerate the process of regional cooperation in the CIS. The paper has given a brief indication of the existing economic cooperation initiatives in the CIS countries. It has also sought to identify some areas where either the current initiatives need to be strengthened and effectively implemented or new initiatives are required.