Opinions & Interviews

The First Deputy Prime Minister of Belarus said: “It is impossible to secure long-term steady development in a closed-loop system. Using our integration platforms like the Eurasian Economic Union and the Commonwealth of Independent States, we can work out new mechanisms of financial support and mutual development. We can bring operational conditions of financial markets as close to each other as possible. We can create the relevant macroeconomic and legislative environment. Only through joint efforts can we find new sources of regional growth.”

Vasily Matyushevsky explained that the Belarusian government is now working on a number of bilateral cooperation initiatives. “We expect that the matter will be able to reach multilateral cooperation soon. I hope that the forum will become the platform for discussing key aspects of interaction between financial agencies, business structures, and international institutions in matters concerning the strategy and directions for developing the financial sector,” he stated.

The First Deputy Prime Minister of Belarus also reminded that accelerated innovation-driven development becomes particularly important in conditions of global challenges. “Capabilities of conventional sectors are dwindling in the modern world. Innovations are becoming a special instrument for transforming the economy. It is important to note that in Belarus the financial sector — banking in particular — is at the forefront of innovative changes of the economy,” the official concluded.

The second international CIS finance and banking forum Minsk Business Meetings is scheduled to take place in Belarus on 26-29 October. It gathered representatives of government agencies, banks, private sector institutions of the Commonwealth of Independent States as well as international development institutions, including those from Europe and Asia.

The forum is dedicated to new challenges and capabilities of banking systems of the CIS states, the development of financial and banking markets of the CIS states, the development of measures to overcome crisis phenomena in banking industry, the formation of the common insurance market, and the enabling of conditions conducive to investment cooperation of the CIS member states.