Tashkent, Uzbekistan (UzDaily.com) -- Commodity exchanges from Belarus, Kazakhstan, Kyrgyzstan, Russia, and Uzbekistan have signed an agreement at the St. Petersburg International Economic Forum.

The exchanges of the five countries have agreed to create an international system of indicators.

Alexey Overchuk, Deputy Chairman of the Government of Russia, noted that this agreement represents a unique structure that preserves the significance of each national exchange.

"There are special interconnections being formed, and very few in the world can show an example of building such relationships between exchanges – usually, integration occurs through mergers or acquisitions. Here, equal participants agree on interaction, reflecting the spirit of partnership and fraternal relations between our countries," said Alexey Overchuk.

He emphasized that the countries are developing joint markets, which facilitates the realization of the four freedoms – the movement of capital, labor resources, goods, and services. Exchanges play a key role in the free movement of goods, and today’s agreement is an important step toward unifying the markets of the five countries, he added.

In his view, this will lead to the formation of price indicators and the development of the financial market.

The creation of a unified information space in the exchange commodity market of the member countries of the agreement, and in the future, a system of international indicators, is intended to strengthen integration processes, increase economic potential, and enhance the competitiveness of national commodity markets.

The technological foundation of the international indicator system will be an original Russian information and analytical platform.