MINSK, 31 March (BelTA) – Belarusian enterprises will be able to increase their presence on the Russian market after transnational, foreign corporations left Russia, Director of the Institute of Economics of the National Academy of Sciences of Belarus Vasily Gursky said at BelTA's round table timed to the Day of Unity of the Peoples of Belarus and Russia.
“One of the Union State programs adopted by Belarus and Russia provides for drafting a common manufacturing policy. It often happened that the conflict of interests of various economic entities hampered the implementation of many good ideas. The agreements reached by our heads of state at the talks on 11 March will undoubtedly give an additional impetus to cooperation in manufacturing and the development of the Union State,” Vasily Gursky said.
As the expert noted, international economic integration is a more complex form of economic relations than just trade or cooperation in manufacturing between individual economic entities. “Here a significant role is played by the state as far as politics is concerned. In my opinion, in order to implement a common industrial policy, we need to start with the development of a common strategy for industrial complexes since our economies are quite integrated into each other,” he noted.
“Our relations bring economic benefits for both states. A large number of Belarusian industrial enterprises use Russian components, spare parts, raw materials, and simultaneously they rely on exports to Russia. Accordingly, if Belarus ramps up production, this will help create new jobs in Russia and increase trade between our countries. Any integration can succeed if it is mutually beneficial and both sides win from it. When transnational, foreign corporations voluntarily leave the Russian market, in fact, they free up space for our enterprises that will be able to increase their exports to Russia. This will also be conducive for the development of the Union State,” Vasily Gursky emphasized.
