Plans to sign $800m worth of contracts during Belarusian-Russian forum

Contracts worth $800 million are supposed to be signed during the Forum of Regions of Belarus and Russia, BelTA learned from Chairwoman of the Economy, Budget, and Finance Commission of the Council of the Republic of the National Assembly of Belarus Tatiana Runets on 29 June.

The signing of commercial contracts is an important component of the Forum of Regions of Belarus and Russia. According to Tatiana Runets, contracts worth $800 million are expected to be signed on the sidelines of this year’s forum.

The senator continued: “Today we all understand that economic growth, successful competition, and the increase in the export potential of any country are impossible without innovations and technological modernizations. Interaction between regions, countries, and cooperations is an important component in this regard. We’ve been cooperating with Russia for a long time both within the framework of the Union State of Belarus and Russia and within the framework of other events and programs. Russia is our strategic partner. In 2020 Belarus-Russia trade totaled $29.5 billion. In January-April 2021 Belarus-Russia trade rose by 32% in comparison with the same period of last year. In 2020 Russian investments in Belarus were close to $3 billion. The investments were close to $1 billion in Q1 2021.”

Cooperation between the two countries within the framework of the Union State of Belarus and Russia is massive. Over 50 scientific and technical programs have been implemented since the Union State was founded. Those are projects in the area of outer space exploration (a satellite constellation has been created), surgery (new technologies for treating kids with spinal injuries have been implemented), agriculture (balanced forage), and meteorology, Tatiana Runets noted.

The 8th Forum of Regions of Belarus and Russia began on 29 June and will last through 1 July. Its main events will be held in the videoconference mode due to the COVID-19 pandemic.