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02 December 2021, 13:42

Belarus against duplicate enterprises in Eurasian Economic Union

MOSCOW, 2 December (BelTA) – Eurasian Economic Union countries should not set up duplicate enterprises and should work together to penetrate markets of third countries. Deputy Prime Minister of Belarus Igor Petrishenko made the statement at a plenary session of the Second Eurasian Congress organized by the Eurasian Development Bank in Moscow on 2 December, BelTA has learned.

The official said: “I'd like to emphasize that we should not set up some duplicate enterprises. We have components of such competition. Yes, it has to exist but we believe that competition should be our joint product on third-country markets. We should not create excessive competitiveness domestically.” As an example he mentioned petrochemical industry and woodworking industry.

Igor Petrishenko believes that countries of the Eurasian Economic Union should more actively promote joint products resulting from manufacturing cooperation to third-country markets. “With financial assistance of the Eurasian Development Bank we should occupy niches on third-country markets, including in the countries the Eurasian Economic Union has signed free trade agreements with,” he noted.

When asked by the session's moderator to clarify, Igor Petrishenko said: “We should not set up duplicate enterprises. Within the framework of the Eurasian Economic Union we should pursue a coordinated industrial policy, promote manufacturing cooperation, and promote joint products to third-country markets.”

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