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Commonwealth of Independent States (CIS) was established in 1991 to ensure continued cooperation in trade and military policy and recognition of borders between the States which formed part of the erstwhile USSR (except Baltic States). Russian Federation, Ukraine, Moldova, Georgia, Armenia, Azerbaijan, Belarus, Kazakhstan, Uzbekistan, Kyrgyzstan, Turkmenistan and Tajikistan are the members of the Commonwealth of Independent States (CIS). Kazakhstan, Uzbekistan, Kyrgyzstan, Turkmenistan and Tajikistan fall in Asia and are commonly known as Central Asian Republics (CAR).
Growth has firmed up in the economy of the Commonwealth of the Independent States (CIS), as the region recovers from an abysmal 2015–2016. Comprehensive data confirm that regional GDP grew a solid 2.8% year-on-year in the second quarter, notably above the first quarter’s 1.1% increase. Stronger growth was seen in most of the region’s economies, with regional heavyweight Russia expanding at the fastest pace since Q3 2012. Large-scale investment projects helped fuel the Russian domestic economy, along with lower inflation, improved confidence and easier monetary policy.
The Russian economy’s recovery had positive spillover effects for several other CIS economies, in the form of robust demand for exports and higher remittances. GDP expanded at the fastest pace since Q3 2014 in Belarus, thanks to higher household spending. Kazakhstan also recorded firmer activity, while Azerbaijan was the region’s standout weak spot. Azerbaijan is the only economy that has not yet exited recession as the energy sector drags down activity.
Relations between India and countries of the CIS Region have remained close and cordial since the Soviet era. However, bilateral trade and commercial relations remain much below their potential.
Commonwealth of Independent States (CIS) was established in 1991 to ensure continued cooperation in trade and military policy and recognition of borders between the States which formed part of the erstwhile USSR (except Baltic States). Russian Federation, Ukraine, Moldova, Georgia, Armenia, Azerbaijan, Belarus, Kazakhstan, Uzbekistan, Kyrgyzstan, Turkmenistan and Tajikistan are the members of the Commonwealth of Independent States (CIS). Kazakhstan, Uzbekistan, Kyrgyzstan, Turkmenistan and Tajikistan fall in Asia and are commonly known as Central Asian Republics (CAR).
Growth has firmed up in the economy of the Commonwealth of the Independent States (CIS), as the region recovers from an abysmal 2015–2016. Comprehensive data confirm that regional GDP grew a solid 2.8% year-on-year in the second quarter, notably above the first quarter’s 1.1% increase. Stronger growth was seen in most of the region’s economies, with regional heavyweight Russia expanding at the fastest pace since Q3 2012. Large-scale investment projects helped fuel the Russian domestic economy, along with lower inflation, improved confidence and easier monetary policy.
The Russian economy’s recovery had positive spillover effects for several other CIS economies, in the form of robust demand for exports and higher remittances. GDP expanded at the fastest pace since Q3 2014 in Belarus, thanks to higher household spending. Kazakhstan also recorded firmer activity, while Azerbaijan was the region’s standout weak spot. Azerbaijan is the only economy that has not yet exited recession as the energy sector drags down activity.
Relations between India and countries of the CIS Region have remained close and cordial since the Soviet era. However, bilateral trade and commercial relations remain much below their potential.
FICCI's Engagement
Recognizing the potential of CIS region, FICCI’s CIS desk has been actively fostering India’s economic and commercial relation with these countries through its sectoral and bilateral initiatives. This includes organizing delegations, exhibitions, reverse buyer seller meet, meeting with Head of States, etc.
The desk closely works in coordination with CIS Missions in New Delhi, Indian Mission in CIS countries and various GoI ministries. It provides a forum to the Indian Industry for developing their businesses, raise relevant issues hindering trade and provide inputs for policy realignments for the benefit of Indian industry.
FICCI has set up Joint Business Council Agreement/ MoU with various Apex Chamber of Commerce & Industry in CIS countries. JBC provides a regular and recognized forum at the Apex level for promotion of economic activities between businessmen and industrialists of two regions.
- Engages with Government & industry associations and think tanks in each CIS member state
- Regular industry interactions and presentation of recommendations to Government
- Closed door interactions with leaders from CIS region
Timeline
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2012
Jun
Event
FICCI Interaction with Business Mission of the Chuvash Republic (Russia) & B2B Meetings
May
Event
India Belarus Chemical Forum & B2B Meetings
Apr
Event
Doing Business in Moscow Region: Road to enhance bilateral cooperation
Event
India - Russia Business Forum & B2B Meetings
Mar
Press Release
India-Russia should together develop advanced technology that is non-aligned, sustainable and independent of external actors: Sergey Cheryomin, Minister, Government of Moscow; Head of the Department for External Economic and International Relations of Moscow; Chairman of the Board, Business Council for Cooperation with India
Event
India Russia Business Forum: Strategic Partnership for Development and Growth & B2B Meetings
May
Press Release
It's time to enhance Indo-Uzbek private sector cooperation: Mr Furkat Sidikov, Deputy Minister of Foreign Affairs to Uzbekistan
Dec
Nov
Feb
Press Release
FICCI to Play pivotal role in developing Air corridors between India and Central Asian countries: Manish Prabhat, Ambassador of India to Uzbekistan
Press Release
Madhya Pradesh and Belarus look to further economic and trade ties
Oct
Press Release
India & Five Central Asian Countries to Focus on Developing Air Corridors, Promote Collaboration in Healthcare sector: 2nd India-Central Asia Business Council meeting
Press Release
Govt to soon finalize air corridor between India-Uzbekistan & other Central Asian countries: Ambassador of India to Uzbekistan
Event
India-Uzbekistan Business Forum
Aug
Press Release
India at an advanced stage of negotiation with Uzbekistan for export & import of agri products: JS (ERS), MEA
Event
Brainstorming session on The Way Forward for Developing India-Central Asia Air Corridor
Jun
Press Release
India & Russia strongly support viable and popular INSTC project: Indian Ambassador to Russia
Event
Way Ahead for International North South Transport Corridor (INSTC) in Post Covid-19 Endemic
May
Event
Webinar on Deepening economic and investment relations between India and Russian Far East
Feb
Press Release
Indian businesses to play important role in strengthening India-Central Asia trade relations - Dr S Jaishankar
Event
India-Central Asia Business Forum in Presence of Dr S Jaishankar, Hon'ble Minister of External Affairs, Govt of India
Jan
Press Release
Kyrgyzstan gaining popularity as tourism destination: Kyrgyz Tourism Minister
Event
Interaction with Kyrgyz Delegation Headed by H.E. Mr Maksat Damir uulu, Deputy Minister of Culture, Information and Tourism, Kyrgyz Republic
Nov
Event
Interactive Session with Uzbekistan IT Delegation led by Mr. Farkhod Ibragimov, CEO of IT Park of Uzbekistan
Event
India Pavilion @ Pharmtech & Ingredients Expo
Oct
Event
Namaskar Eurasia
Jun
Mar
Event
Business Interaction with H.E Andrei Aleksandrovich Antonov, 1st Deputy Governor & the accompanying business delegation from Tomsk Region of the Russian Federation
Jan
Press Release
Kyrgyzstan, India mulling joint financing mechanisms to boost two-way investment & trade: Kyrgyz Foreign Affairs Minister
Nov
Event
India Pavilion at Pharmtech & Ingredients Expo
Oct
Event
B2B Session during Russian Business Mission to India
Aug
Event
Business Delegation to Uzbekistan Coinciding with Visit of Shri Suresh Prabhu, Minister of Commerce & Industry
Event
Business Interaction with Mr Shamil Burnashev Deputy Chairman of the State Committee for Investments in Uzbekistan and the accompanying business delegation
Jun
Press Release
FICCI partners with AACTA Asia International Engagement Program in partnership with Shanghai International Film Festival for China-India Film & Cultural Exchange Panel Discussion
Mar
Event
Business Interaction with H.E. Mr. Alexey Gruzdev, Deputy Minister of Economic Development of the Russian Federation
Feb
Nov
Sep
Event
India - Rostov Region Business Forum
Aug
Event
India Pavilion at Textillegprom 2017
Apr
Event
Interactive Session with H E Mr. Boris Dubrovsky, Governor, Chelyabinsk Region, Russia and the Accompanying Business Delegation
Dec
Mar
Oct
Event
India Pavilion at AGROPRODMASH 2015
Jul
Press Release
A high powered FICCI business delegation to accompany the Prime Minister to Kazakhastan
Jun
May
Dec
Event
Signing Ceremony of a Cooperation Memorandum between FICCI and All-Russian Public Organization 'Business Russia'
Event
India Pavilion at ZDRAVOOKHRANENIYE 2014: 24th International Exhibition for Health Care, Medical Engineering and Pharmaceuticals
Nov
Oct
Apr
Jan
Event
Meeting with Mr Zeljko Sertic, President of Chamber of Commerce and Industry of Serbia (CCIS) and H.E Mr Jovan Mirilovic, Ambassador, Republic of Serbia to India at FICCI
Dec
Event
Business Meeting with H.E. Mr. Viktor Yanukovych, President of Ukraine and the Accompanying Delegation
Nov
Event
Business Meeting with H.E. Dr Mikhail Myasnikovich, Prime Minister of the Republic of Belarus and Accompanying Delegation
Oct
Sep
Event
Joint Business Meeting with H.E. Mr. Emomali Rahmon, President of the Republic of Tajikistan
