CIS conference opens in Baku to improve financial system

BAKU. October 21. KAZINFORM Representatives of the banking sector of Commonwealth countries, including Russia, will discuss questions on improving the financial system over the CIS space at an international conference here on Thursday; Kazinform refers to Itar-Tass.

This event is held in Baku for the third time, which points, in the opinion of analysts, to reliability of Azerbaijan's financial system that could ride out the global economic crisis without losses.

It is supposed that the present forum will centre on the development of financial institutions that are the basis for structural modernisation of the national economies and their interrelationship in implementing transborder projects over the space of CIS countries.

It is also planned to examine cooperation of national banking institutions and regulators in integration processes over the Commonwealth space, to share experience in the financial sphere and to discuss the role of commercial banks in developing national financial markets.

The conference will discuss separately the role of financial institutions in creating multi-modal transport infrastructure, including in the framework of the international North-South and East-West corridors. Besides, the forum will hammer out recommendations on carrying a concerted policy of the Caspian states in funding the development and transportation of energy resources.

Russia will be represented at the conference by executives of leading banks and financial structures of the country.