Integration cooperation contributes to the development of the economies and welfare of citizens of Belarus and Russia, Belarusian Economy Minister Yuri Chebotar said at the meeting of the Council of Ministers of the Belarus-Russia Union State in Minsk on 5 November, BelTA learned from the press service of the Economy Ministry.
Yuri Chebotar reported on the implementation of the main directions of the provisions of the Union State Treaty for 2024-2026. According to him, 62% of the activities planned for the current year have already been implemented.
“In January-September 2024, both countries ensured dynamic GDP growth above the world average. Industrial production, real incomes of the population are growing, with investment cooperation intensifying. In H1 2024 the capital inflow from Russia to Belarus increased by almost 7%, and Russia's share in total investment reached a seven-year high. A set of measures to stimulate investment activity, signed in April, played a certain role in it,” Yuri Chebotar said.
As for the efforts to create a single financial market, the relevant agencies are working on the further development of national payment systems. A list of systemically important projects aimed at import substitution is being formed in agriculture.
The development and modernization of transport and logistics infrastructure will speed up and facilitate the delivery of goods from third countries. Customs and transportation departments are working on it. An intergovernmental agreement on the procedure for recognizing electronic digital signature has been signed and is undergoing ratification procedures, which will greatly simplify the interaction of economic entities.
“In the area of ensuring technological sovereignty, an action plan for the implementation of the strategy of scientific and technological development until 2035 has been worked out and will be adopted by the end of this year,” the minister said.
He also voiced the proposed approaches to strategic planning and formation of the economic model of the Union State, the expected results of joint work of the economic departments of the two countries.
