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Economy
09 September 2022, 19:55

Call for more active cooperation between Belarus, regions of Russia

Aleksandr Chervyakov. An archive photo
Aleksandr Chervyakov. An archive photo

MINSK, 9 September (BelTA) – Stepping up cooperation with Russian regions in a broad choice of avenues is of great importance. Belarusian Economy Minister Aleksandr Chervyakov made the statement as he met with St Petersburg Vice Governor Valery Moskalenko, BelTA has learned.

According to Aleksandr Chervyakov, Russia has always been the key strategic partner for Belarus. However, in view of unfriendly actions of individual countries the realization of previously determined strategic directions on advancing economic integration is getting faster.

The official said: “In this regard it is of great importance to step up cooperation with Russian regions across a broad spectrum of avenues. The Economy Ministry coordinates interaction with Russia's Vladimir Oblast and Yakutia. Other government agencies have had two or three regions per agency assigned to them as well. The practice has proven its effectiveness. Trade turnover is growing and ties are getting stronger. As one takes a close look at problems of interaction with individual regions, one can often find something to be addressed in relations between the two countries. Faster feedback is available here and allows for prompter responses.”

Participants of the meeting discussed promising avenues of trade and economic cooperation in detail as well as other spheres of cooperation. Representatives of the Russian side shared successful experience of realization of initiatives within the framework of special investment contracts and infrastructure projects, including those utilizing public private partnership. A considerable part of the conversation was dedicated to support for manufacturing business, including by involving the private sector in manufacturing cooperation and import substitution.

Aleksandr Chervyakov said: “Instructions have been given to get private enterprises involved in this work. With this in mind we've organized and regularly hold business matchmaking sessions for the sake of import substitution. Then there is the digital platform of the Belarusian Universal Commodity Exchange. Our large and medium-sized enterprises use it to place orders for components and other products they need for manufacturing purposes. The private sector uses the platform since it can very fast deliver or make the goods the state-run enterprises need. Unlike similar digital solutions of other mercantile exchanges the Belarusian Universal Commodity Exchange offers lower entry costs. All the arriving companies are verified. In other words, we guarantee there will be no shell companies there. Respectively St Petersburg companies can also work productively with the platform. Within the framework of this model a bridge can be established for cooperation between enterprises and the private sectors of our countries.”

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