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Support for export of Belarusian-Russian products to third-country markets discussed in Minsk

MINSK, 12 October (BelTA) – Ways to support the export of Belarusian-Russian products to third-country markets were discussed at a meeting in the Council of the Republic of the National Assembly of Belarus, the press service of the upper chamber of the Belarusian parliament told BelTA.

The meeting took place in anticipation of a joint session of the commissions on budgets, finance, and economic policy of the Parliamentary Assembly of the Union State of Belarus and Russia. The session is scheduled for November. Representatives of the Belarusian Industry Ministry, the Russian Industry and Trade Ministry, the Development Bank of the Republic of Belarus, and Vnesheconombank of the Russian Federation (VEB.RF) are expected to take part in it.

As she opened the meeting, Chairwoman of the Economy, Budget, and Finance Commission of the Council of the Republic of the National Assembly of Belarus Tatiana Runets noted that the relevant program documents on export support and diversification are being implemented at the national levels. Belarusian and Russian manufacturers seek ways to finance the export of jointly made products, this is why Belarusian and Russian MPs cannot stay away from efforts to resolve these problems. In particular, a project to provide loans for the export of haul trucks made by BelAZ to third countries is one of the pilot projects being implemented.

Tatiana Runets also said that on the whole the joint promotion of products onto third-country markets is regularly discussed within the framework of the Parliamentary Assembly of the Union State of Belarus and Russia. Since 2017, Union State MPs have been considering the possibility of amending the Union State’s fundamental documents in order to allow spending the Union State budget on compensating the interest rate costs to the banks that offer loans and use other tools to finance the export of products made as a result of manufacturing cooperation schemes between Belarusian and Russian companies to third countries. The MPs have also been considering the creation of the relevant source in the budget of the Union State of Belarus and Russia.

Representatives of the Industry Ministry, top officials of the Belarusian Chamber of Commerce and Industry, the Development Bank of the Republic of Belarus, Belarusbank, BelAZ, and BelVEB Bank took part in the meeting.

Chairman of the Belarusian Chamber of Commerce and Industry Vladimir Ulakhovich presented a report on the solutions for exporting Belarusian-Russian products to third countries that were adopted during an expanded-participation session of the national business councils within the framework of the 6th Forum of Regions of Belarus and Russia. Representatives of the Industry Ministry, the Development Bank of the Republic of Belarus, and Belarusbank talked about suggested mechanisms and problems relating to the support for the export of Belarusian-Russian products to third countries. Representatives of the management of BelAZ and BelVEB Bank presented a report on progress in implementing a pilot project on loans for the export of BelAZ haul trucks to third countries.

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