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25 Feb 2016

Putin: Belarus and Russia have enough resources to resume the Union State’s economic growth

MINSK, 25 February (BelTA) – Russia and Belarus have enough internal resources to resume the economic growth of the Union State. President of Russia Vladimir Putin made the statement during the session of the Supreme State Council of the Union State of Belarus and Russia in Minsk on 25 February, BelTA has learned.

“Russia and Belarus have ample internal resources. By tapping into them, we will be able to recover the sustainable pace of economic development of the Union State. We will be able to put mutual trade back on sustainable growth track,” Vladimir Putin was convinced.

The President of Russia underlined that the implementation of the program documents, which were adopted in March 2015, should also be geared towards reaching these goals. “A number of things are reflected by the action plan on enabling conditions for trade and economic cooperation and by the list of priority tasks for developing the Union State till 2017,” he added.

It is important to focus efforts of economic agencies of the two countries on improving the business and investment climate. With this in mind the operation of the working group on macroeconomic coordination should be activated, suggested Vladimir Putin. He also said it is necessary to continue the practice of organizing joint sessions of the boards of the Belarusian and Russian economy ministries. “It is also necessary to step up versatile industry-based interaction and to pursue a better coordinated economic policy,” said Vladimir Putin.

In his words, during the restricted-attendance session of the Supreme State Council they reached an agreement on continuing the harmonization of regulatory control in the production sector, currency and finance, and the services sector.

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