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18 Sep 2015

Lukashenko suggests concrete steps to developing single Union State industrial policy

SOCHI, 18 September (BelTA) – It is essential to take concrete steps to develop the single industrial policy in the Union State, Belarus President Alexander Lukashenko said at the plenary meeting of the 2nd forum of regions of Belarus and Russia on 18 September, BelTA has learned.

The situation in the world showed that both Belarus and Russia are affected by external factors, the Belarusian leader noted. “Because of the instability in the euro zone, fluctuations of the Chinese yuan exchange rate on the global stock markets it is needed to revise the economic policy. Today it is especially important to consolidate our potentials in the Union State and the Eurasian Economic Union in general. In our opinion, the coordination of efforts in the manufacturing sector which can be supported by the formation of the single industrial policy plays a crucial role. The main objective of this policy is to diversify national economies, create new production facilities and develop the human potential,” Alexander Lukashenko said.

Alexander Lukashenko suggested taking a number of concrete measures in this direction and said that it is needed to begin with the need to provide equal conditions to economic operators on the common market of goods and services. “It is needed to step up efforts to eliminate existing barriers and restrictions in trade which make bilateral cooperation less attractive and marginalize the idea of integration,” Alexander Lukashenko stressed.

Apart from that, he deems it necessary to step up efforts to protect the common market, including from “grey import”, deepen the specialization of manufacturing organizations, expand technological cooperation, and implement more investment projects together.

It is also possible to make new products which can replace imported analogues. “We need to devise a comprehensive and balanced approach aimed at uniting scientific, material and investment resources for the structural upgrade of the manufacturing sector and prioritize the development of science intensive industries,” the Belarusian leader added.

Alexander Lukashenko expressed confidence that these steps will help promote import substitution, stimulate export oriented companies and bridge the technological gap with western countries.

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