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"On Point"
MINSK, 7 December (BelTA) - Export diversification creates a kind of economic safety cushion and extends the reach of Belarusian goods to new markets, PhD in Economics Georgy Grits said in the latest episode of the V Teme [On Point] project on BelTA's YouTube channel, while discussing the recent extensive working trip of the Belarusian president.
First, the economist emphasized the necessity of diversifying export streams. He noted that after sanctions were imposed against Belarus, revenues from markets such as the European Union and Ukraine were “lost” and needed to be compensated. Thanks to the long-term strategy of the head of state and the development of relations with far-away countries, Belarus has gained other sales markets.
“We did not leave Europe, we did not leave Ukraine. We were unceremoniously pushed out from there. Given that we have an export-oriented economy, we need new sales markets. Of course, there is Russia, the Union State, and we can supply everything there. But there must be a kind of safety net,” Georgy Grits said.
In his words, Belarus has established a trend towards developing trade and economic relations with friendly states. Minsk has set a course for developing relations and achieving full membership in organizations such as the SCO and BRICS, which today largely shape global politics.
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