Business news

SOCHI, 18 September (BelTA) – Belarus is in no rush to join the World Trade Organization (WTO) so as not to damage the Eurasian Economic Union. Belarus President Alexander Lukashenko made the statement during the second Forum of Regions of Belarus and Russia in Sochi on 18 September, BelTA has learned.

The head of state pointed out that Kazakhstan’s latest arrangements with the WTO, the customs duties the two sides have agreed on have created a real problem for the operation of the economic union. “We are forced to adjust to what the WTO and Kazakhstan have come up with. It will not be easy because the customs duties have opened the floodgate to the possible flow of merchandise to the Russian market and the Belarusian one,” noted Alexander Lukashenko. Nearly all the industrial enterprises are threatened, he added.

In turn, Belarus has resumed talks with the WTO. “But we are in no rush to join the WTO,” noted Alexander Lukashenko. In his opinion, it is necessary to analyze the situation. “Belarus may benefit more from staying outside the World Trade Organization. Naturally we may feel pressure designed to convince us to reduce the customs duties even more but such a move would destroy the entire economic union,” stressed the President.

“We have stopped to accurately study the situation in order to avoid such mistakes. We would like our partners and colleagues to be aware of that,” said the Belarusian leader.