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Belarus, Russia’s Ryazan Oblast aim for $500m in trade

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RYAZAN, 29 October (BelTA) – Belarus and Ryazan Oblast of Russia intend to increase mutual trade to $500 million, including through high-tech products. This agreement was reached during a meeting between Ambassador of Belarus to Russia Aleksandr Rogozhnik and Governor of Ryazan Oblast Pavel Malkov in Ryazan on 29 October, BelTA has learned.

"Our mutual trade is growing at a good pace in high-tech products, in particular, microelectronics. This is good news because the transition to high-tech goods is a brand new level of trade," Ambassador Aleksandr Rogozhnik stated.

"Today our trade is around $250 million. Belarusian President Aleksandr Lukashenko usually sets a task to multiply it by two or three times. I propose to increase it twofold in the next three years in order to fully harness the potential of Ryazan Oblast and Belarus," the ambassador said.

Pavel Malkov stated that the mutual trade doubled last year. According to him, the region imports industrial equipment, furniture, food products, paper, cardboard, vehicles from Belarus. Ryazan Oblast supplies Belarus with roofing and insulation materials, ferrous metal products, plastics, measuring equipment and leather products.

In 2023 trade between Belarus and Ryazan Oblast exceeded $246 million. In January-August 2024 it amounted to $174.9 million (up by 9.5% year-on-year).

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