Business news

MINSK, 28 December (BelTA) – The future of Belarusian-Russian cooperation belongs to joint import substitution work, BelTA learned from Alexander Olshansky, Director of the Eurasian Agency for International Cooperation.

According to Alexander Olshevsky, the predictions that Russia will not be able to substitute imports solely on its own and that future belongs to joint import substitution efforts have come true. The official explained that during the entire year of 2016 Belarus and Russia practiced using the import substitution mechanisms that had been declared a long time before. “As a result, many Russian businessmen now specialize in working with Belarus,” stated Alexander Olshansky.

The expert remarked that nobody gets surprised anymore by Belarusian foods sold in Vladivostok, Khabarovsk, in Siberia, or the Sakhalin Island. “It means that a common market has been formed. Belarusian companies are now full-fledged participants of the market and compete with Russian manufacturers. The relations have gone past a turning point and now the initiative comes from the Russian regions,” added Alexander Olshansky.

The Eurasian Agency for International Cooperation offers expertise and consulting services in order to further integration projects of the private sector in the Eurasian Economic Union. The agency’s work also supports public private partnership, international marketing, and the development of distribution chains.