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25 June 2022, 20:25

Belarus, Russia eager to sell import substitutes to third countries

ST PETERSBURG, 25 June (BelTA) – Belarus and Russia are interested in selling their import-substituting products on markets of third countries. President of Russia Vladimir Putin made the statement as he met with Belarus President Aleksandr Lukashenko in St Petersburg on 25 June, BelTA has learned.

“We will talk about the entire range of matters relating to the development of infrastructure, trade, to the realization of major projects,” the Russian head of state identified the economic matters that would be discussed. He remarked he had talked to top government officials earlier that day to discuss the allocation of the credit resources the sides had previously agreed on. The resources are supposed to enable financial opportunities for Belarusian enterprises to start making import substitutes. “Not only for the sake of manufacturing import substitutes but for creating their own R&D products in order to reach beyond the level of what Belarus and Russia need,” Vladimir Putin clarified.

In his words, the Russian government agrees that some of these resources may be and should be used by Belarusian enterprises in order to be able to make products for third-country markets, too. “In the end Russia will be interested in it considering the level of our manufacturing cooperation,” Vladimir Putin is convinced.

In turn, Aleksandr Lukashenko informed his Russian counterpart that Belarus will soon begin making import substitutes within the framework of joint projects with Russia. “Import substitution is our traditional topic. We've suggested 15 major projects. The Russian side has approved them. You've supported us with regard to the joint funding of these projects. If everything goes the way we have planned, we will start making import substitutes soon,” Aleksandr Lukashenko said.

“I mean the companies from unfriendly countries that used to supply products to us, to Russia and Belarus… We will be able to make our own products during this year and the next one,” the head of state added.

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