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30 May 2022, 17:58

Opinion: EAEU can change political, economic architecture of Eurasia

MINSK, 30 May (BelTA) - The EAEU is a civilizational project that can radically change the entire political and economic architecture of Eurasia, Tatiana Runets, Chairwoman of the Standing Commission on Economy, Budget and Finance of the upper house of the Belarusian Parliament, told BelTA.

"We clearly see that the sanctions of the collective West against Belarus and Russia is not weakening. They pursue quite definite goals: to slow down the technological and economic development of competitors. In this regard, the role of the Eurasian Economic Union is growing. Designed to promote the development of industrial and economic sectors on equal terms, to eliminate trade barriers and to establish financial and logistics flows, it can protect the economies of the participating countries from the illegal sanctions of the collective West," Tatiana Runets said.

According to her, the last meeting of the Supreme Eurasian Economic Council emphasized the importance of setting up joint companies and industry clusters in the Eurasian Economic Union, which could replace critical imports across a wide range of components and products. "By the way, it is worth noting that Belarus has retained many of the industrial, scientific and technological competencies that Russia needs now. We actively developed them in microelectronics, IT, agricultural engineering, instrumentation and machine tool building, and petrochemistry. All this will ensure the growth of mutual investments and contribute to the development of relevant industries," the senator said.

"Given its huge production capabilities and mineral reserves, labor and financial resources, the Eurasian Economic Union is actually a civilizational project at its core. It is meant to build a common economic space for equal cooperation of the participating countries and can radically change the entire political and economic architecture of Eurasia. Thanks to the preservation and further development of its industrial, scientific and technical capabilities in the areas of critical imports, the Republic of Belarus has a unique opportunity to harmoniously fit into this project," Tatiana Runets added.

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