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Opinions & Interviews

19 Jun 2018

Putin reaffirms commitment to economic integration with Belarus

Putin reaffirms commitment to economic integration with Belarus

MINSK, 19 June (BelTA) – Russia is committed to the further economic integration with Belarus, Russian President Vladimir Putin said during the meeting of the Supreme State Council of the Belarus-Russia Union State in Minsk on 19 June, BelTA has learned.

He noted that Russia is interested in the development of the Union State and fostering of political and economic integration with Belarus. Vladimir Putin drew attention to the fact that next year the countries will celebrate the 20th anniversary of the signing of the Union State Treaty.

According to the Russian leader, much has been achieved since then. The two countries have bolstered ties in trade, economy, investment, science, culture and humanitarian affairs and expanded the legal framework of cooperation in all areas.

During this meeting the State Supreme Council is set to adopt the priority areas and priority goals of the further development of the Union State, Vladimir Putin said. This fundamental document will define the guidelines for the next five years.

The Russian president believes that the trade in the Union State requires further expansion and diversification. He noted that last year, the trade surged by 23.5% to total $32.4 billion. This year the trade between Belarus and Russia has been growing as well.

“We can reach $50 billion in the mutual trade,” Vladimir Putin said. He also noted that the volume of Russian investments in the Belarusian economy has exceeded $3.9 billion. In turn, the Belarusian enterprises have invested $620 million in Russia.

The Russian head of state considers it important to improve the business and investment climate, to carry out the agreed financial, credit, and tax policies, to continue the harmonization of regulatory activities. He also urged to take additional steps to enhance industrial cooperation between Belarus and Russia

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