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28 Jan 2019

Belarus incurs biggest losses from barriers in EAEU

Belarus incurs biggest losses from barriers in EAEU
Photo courtesy of the Eurasian Economic Commission

MOSCOW, 28 January (BelTA) – Belarus bears the greatest costs from the existing barriers in the Eurasian Economic Union, said Tatyana Valovaya, a member of the Board (Minister) for Integration and Macroeconomics of the Eurasian Economic Commission, at a press conference in Moscow on 28 January, BelTA learned.

“I will cite some approximate figures. In terms of GDP Belarus' share in the total gross domestic product of the Eurasian Economic Union is approximately 3.6%. But if we analyze the country’s share in terms of export, then it hovers somewhere from 25% to 30%. In terms of this indicator Belarus is second only to Russia, by small margin. In terms of import Belarus is ahead of Russia, with the share at about 40%. Belarus is very closely interconnected and integrated with other countries (more than any other country of the EAEU), and thus its costs associated with the barriers, derogations and exceptions are much higher. In this regard, I keep track of what Belarusian officials say as they point out to the bottlenecks we need to address ,” Tatyana Valovaya said. She noted that these include equal conditions for economic entities, development of the common markets of oil, oil products and gas in the EAEU and distribution of customs duties.

“I always say that I am always glad to hear criticism of the Eurasian Economic Commission. You do not criticize the things that are of no interest, that are irrelevant. Alexander Lukashenko’s eloquent and emotional speeches are evidence that Belarus is really very interested in the Eurasian integration. The country reaps great benefits but at the same time it understands that it can get more,” Tatyana Valovaya said.

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