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The Economic Bureau of ING Commercial Banking released a new research report entitled “Valuing Close Connections”, a landmark study that assesses the value of the close economic connection between Western Europe and Central and Eastern Europe, Russia and the Commonwealth of Independent States.
The report provides conclusive evidence that the interconnection between the regions has led to increased employment, improved GDP and has added value to key economies in the region since 1995. For Western Europe, the ING Connection Rate was equivalent to around 20% of GDP in 2012. In Central and Eastern Europe and the Commonwealth of Independent States, it equaled 65% of GDP in the same year.