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Economy
03 October 2022, 09:00

Key areas for cooperation in EAEU outlined

MINSK, 3 October (BelTA) - Chairman of the Board of the Eurasian Economic Commission (EEC) Mikhail Myasnikovich named the key areas for the development of cooperation in the Eurasian Economic Union (EAEU) in an interview to the Belarus 1 TV channel, BelTA has learned.

“We clearly understand that the unfriendly steps taken by the West against the Russian Federation and Belarus will not end today or tomorrow. We must take this into account and continue to build up our work under the prevailing conditions. We have many reserves that we must use without fail. First of all, this concerns joint investment activities. We are now considering many microelectronics issues. Belarus and Russia have the relevant competencies; we should unite and create powerful clusters to develop this sector,” Mikhail Myasnikovich said.

The second area, which is seen as a priority, is the production of medications. “Despite the fact that pharmaceutical companies in all five countries are quite confident, we believe that it would be possible to set up new factories for the production of drugs, which will be both import-substituting and export-oriented. We are realistic about things; it is impossible to replace everything; probably we should not even strive for that. However, we can at least produce key drugs that are vulnerable today due to sanctions,” he said.

Aircraft building was named as another area for cooperation. “This is a high-tech industry, which is attractive to many. We have worked out relevant proposals on what components our countries can make,” the chairman of the EEC Board said.

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