Business news

MINSK, 10 May (BelTA) – Belarus and Russia’s Rostov Oblast plan to increase their mutual trade to $500 million, Belarusian Deputy Prime Minister Mikhail Rusy said at the ninth meeting of the working group on cooperation between Belarus and Rostov Oblast of Russia on 10 May, BelTA has learned.

“We should set the target at half a billion dollars,” Mikhail Rusy emphasized. The trade between Belarus and Rostov Oblast totaled $340 million in 2016, up by 20% from 2015. Belarus’ exports made up $201.2 million (an increase of 20.5%). The country imported $138.2 million worth of products from Russia’s region, up by 17.1%.

Mikhail Rusy stressed that Rostov Oblast is one of the most important, promising trade and economic partners for Belarus. He said that the meeting of the working group was aimed at developing a roadmap for strengthening the cooperation in 2017-2019. “We are interested in boosting the trade, promoting business initiatives. We should make joint products, create efficient jobs and opportunities for people to earn money,” he said.

Belarus and Rostov Oblast have good prospects for intensifying their cooperation in agriculture, mechanical engineering, and construction. “We are ready to participate in your social programs to build schools, nurseries and kindergartens. We actively support these projects,” Mikhail Rusy said.

The next meeting of the working group will take place in the second half of 2018.