MINSK, 22 August (BelTA) - Belarus and Russia are developing a draft economic model for the Union State, BelTA learned from the press service of the Belarusian State Concern for Oil and Chemistry Belneftekhim.
The first working meeting to discuss the draft economic model for the Union State between Belarus and Russia was held at the concern’s initiative. Belarus recalled that the economic model is subject to approval by the heads of state and will be a continuation of the main directions for implementing the provisions of the Union State Treaty for 2024–2026, as approved by Decree No.2 of the Supreme State Council of the Union State, for a new period - 2027–2030.
During the meeting, Belneftekhim Deputy Chairman Vladimir Sizov emphasized that effective cooperation between Belarus and Russia, ensuring sustainable economic development of the countries and the quality of life of citizens of the Union State, is the main goal of the economic model. He also stressed that economic cooperation between the countries should be gradual and based on the need to achieve the objectives of the Union State’s establishment, including the creation of a single economic space, as well as on deepening cooperation in industrial, technological, and infrastructure development, and minimizing the negative impact from unfriendly countries and geopolitical challenges on the economies of both countries.
The meeting discussed the practical content of the Petrochemicals section of the Union State’s economic model, taking into account the need to meet demand for petrochemical products.
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