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Economy
12 September 2022, 19:58

Record-high Belarus-Russia trade expected in 2022

MOSCOW, 12 September (BelTA) – Belarus and Russia expect a record-high volume of bilateral trade this year in addition to virtually a zero balance of export and import operations. The possibility was discussed as Ambassador Extraordinary and Plenipotentiary of Belarus to Russia Dmitry Krutoi met with Russian Deputy Minister of Foreign Affairs Andrei Rudenko on 12 September, BelTA has learned.

Dmitry Krutoi and Andrei Rudenko discussed matters of bilateral cooperation, the advancement of integration processes within the framework of the Union State of Belarus and Russia, interaction in the Eurasian Economic Union and international platforms. Close attention was paid to the schedule of forthcoming Belarusian-Russian contacts at the high level and the top one as well as scheduled events organized by the Belarusian and Russian foreign ministries.

Dmitry Krutoi and Andrei Rudenko mentioned that Belarus-Russia trade increased in January-July 2022. A trend for stronger balance of bilateral trade was noted. Provided the current pace stays in place, Belarus and Russia will secure a record-high volume of trade as well as virtually a zero balance of export and import operations. The state of affairs is attributed to the falling influence of energy commodities and growing trade in agricultural products, mechanical engineering goods, chemical and woodworking goods. It is a consequence of the successful redirection of exports from the Ukrainian market and the European one in the course of fighting illegal Western sanctions and a consequence of the launch of Union State programs, in particular, the lifting of barriers and restrictions in the common economic space of Belarus and Russia.

Dmitry Krutoi and Andrei Rudenko mentioned the successful completion of about half of the measures and steps stipulated by the 28 Union State programs. They stated the importance of realizing the agreements concerning indirect taxes, customs affairs, and energy terms for the year 2023.

In view of the growing Belarus-Russia trade, investment activity, and the realization of important import-substituting projects Dmitry Krutoi and Andrei Rudenko mentioned the need to expand diplomatic presence at the regional level. They agreed to continue contacts for the sake of promoting the Belarus-Russia dialogue at all levels, the press service of the Belarusian embassy said.

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