Agreement on unified industrial policy expected to give new impetus to Belarus-Russia integration

The agreement on a unified industrial policy will give an additional impetus to the integration of Belarus and Russia, Industry Minister of Belarus Aleksandr Rogozhnik said, BelTA learned from the press service of the Industry Ministry.

The Belarus-Russia intergovernmental agreement on a unified industrial policy was signed in Moscow on 15 February. The document was drafted in furtherance of the Union State unified industrial policy program. The program is an integral part of the 2021-2023 guidelines for implementing the Union State Treaty.

The agreement sets forth basic conditions for creating a unified industrial space in the Union State and provides for the integration of material and intellectual potentials of industrial enterprises in Belarus and Russia. It also envisages expansion of mutually beneficial cooperation and creation of a competitive environment for industrial products of the two countries, as well as import substitution.

“It is of paramount importance to strengthen Belarus-Russia cooperation in the manufacturing industry given the cut-throat competition in the world markets and the aggressive sanctions. The advantages of deep economic integration are obvious: a more vibrant trade, equal access to the markets of the two countries and joint promotion of products on the markets of third countries, as well as innovative projects and cooperation in science and technology. All promising programs and projects are aimed at improving living standards in Belarus and Russia,” Aleksandr Rogozhnik stressed.

According to him, the common industrial space of Belarus and Russia is not being created from scratch. The two countries have accumulated a great deal of cooperation experience and have built a broad network of contacts. “The intergovernmental agreement on a unified industrial policy will give an additional impetus to integration. The document paves the way for more active cooperation at the industry level and will facilitate the implementation of Belarus-Russia projects. Thus, enterprises of the two countries will get a unique chance to produce highly competitive products and set a foothold in the world market,” the minister noted.