Business news

MOGILEV, 12 October (BelTA) – Belarusian business could take part in the Russian import substitution program, Chairman of the Council of the Republic of Belarus Mikhail Myasnikovich said at a plenary session of the 5th Forum of Regions of Belarus and Russia, BelTA has learned.

The speaker believes that Belarusian business could be part of the Russian import substitution program that is supervised by the Russian Industry and Trade Ministry. Small and medium-sized businesses could take part in the SMEs preferential financing program aimed at supporting projects in priority industries in Russian regions.

“As is known, Belarusian residents are not part of the Russian programs. Belarusian enterprises do not have access to Russian subsidy programs,” Mikhail Myasnikovich said.

He rejected the opinion that Belarus does not allow subsidizing of Russian goods. “It is not true. For example, in 2017 we bought Russian Kirovets tractors worth RUB200 million under the leasing scheme. We spent another RUB150 million on these tractors in January-July 2018. In addition, we purchased Rostselmash harvesters, although we have similar Belarusian machinery,” the speaker stressed.

Mikhail Myasnikovich recalled that Belarus has no legal barriers that prevent Russian partners from participating in Belarusian state programs. Joint companies both with Russian and Belarusian capital are subject to the same criteria. They can be part of Belarusian programs and projects. Russian companies may also join the projects based on public-private partnership principles, including the Belt and Road global initiative.