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Economy
08 June 2022, 09:32

Belarus, Russia analyzing competencies for further import substitution

An archive photo
An archive photo

MINSK, 8 June (BelTA) – Belarus and Russia are taking stock of their competencies to ensure further import substitution, Deputy Economy Minister Dmitry Yaroshevich told the Mir 24 TV channel, BelTA informs.

“The industry ministries of Belarus and Russia are now analyzing the competencies that will help substitute missing goods. There are two main areas of work here. The first thing is analyzing the existing production capacities in our country and in Russia. Private businesses quickly found their way around and were able to build contacts with our flagship companies. And the second thing is the creation of new capacities. We have made significant progress here, too. There are a number of projects - precision engineering, chemical industry, microelectronics and other industries - that are exactly those points of growth that will prop up our economy in the medium term,” Dmitry Yaroshevich noted.

He added that the adaptation to the new business environment will vary depending on an industry. “Some of industries were able to quickly find their bearings and have already established contacts with clients from countries that are ready to work with us. Others will not be able to rebuild their operations overnight, but the main thing in this process is to keep going. Everyone should get focused and keep moving forward,” Dmitry Yaroshevich added.

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