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17 August 2022, 15:59

Mutual recognition of bank guarantees to contribute to Belarus-Russia trade

MINSK, 17 August (BelTA) – Belarus and Russia have discussed the realization of mutual recognition of bank guarantees in the course of government procurement contracts, BelTA learned from the National Marketing Center of the Belarusian Ministry of Foreign Affairs.

The National Marketing Center's education center in association with the National Bank of the Republic of Belarus and the Russian company RTS-Tender arranged a webinar to highlight new opportunities for the Belarusian private sector to participate in government procurement contracts and commercial contracts in Russia.

Participants of the webinar were informed in detail about the legal framework for the mutual participation in government procurement contracts in the Eurasian Economic Union member states, about the information systems used to enable and manage government procurement in the Eurasian Economic Union countries, and about the universal information platform for handling government procurement in the Russian Federation. Close attention was paid to a pilot project, which provides for the realization of mutual recognition of bank guarantees between Belarus and Russia in the sphere of government procurement. The National Bank of the Republic of Belarus has recently launched this project in association with five Belarusian banks.

Representatives of ZAO MTBank and ZAO VTB Bank (Belarus) took part in the webinar. They talked about conditions for getting bank guarantees for the sake of participation in government procurement contracts in Russia. A total of 150 listeners attended the event.

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