Opinions & Interviews

The official mentioned four components in the coordinated industrial policy of Belarus and Russia: efforts to increase trade through manufacturing cooperation, exploration of new industry segments as part of import substitution processes, expansion of R&D cooperation, and mutual investments.

The Russian Industry and Trade Minister said it is possible to increase the trade turnover using the already explored markets by discouraging competition between Belarusian and Russian products. “It is necessary to come up with ways to jointly deliver merchandise. It can be done by specifying joint industrial output targets,” he said.

Speaking about the enabling of parity conditions for Belarusian and Russian companies, Denis Manturov mentioned that it is necessary to analyze and adjust the relevant regulations. He noted that Russia had already adjusted the rules on subsidizing purchases of agricultural machines. Now these preferences are applicable to Belarusian machines, too. Plans have been made to treat components made in the Eurasian Economic Union as Russian ones. Apart from that, Russian export incentives can already be used by Belarusian-Russian joint ventures.

Denis Manturov said he sees great prospects for import substitution on the Belarusian and Russian markets. “It is necessary to build joint manufacturing chains to make competitive high-tech goods,” noted the official.