Alexey Overchuk: Belarus is actively involved in import substitution in Russia

14.02.2023. One of the key areas for the development of bilateral relations between Russia and Belarus is the expansion of trade and economic cooperation. Belarus is actively involved in the implementation of investment projects aimed at import substitution, Russian Deputy Prime Minister Alexei Overchuk said in Minsk at a meeting of the High Level Group. "One of the key areas for the development of bilateral relations between Russia and Belarus is the expansion of trade and economic cooperation. Working together, we remove all possible barriers, this allows us to create better conditions for the development of cooperation ties, contributes to the creation of new jobs, economic growth and improvement of the living standards of citizens Russia and Belarus," the Deputy Prime Minister said.

Overchuk recalled that last year agreements were reached on the implementation of investment projects for import substitution, and a corresponding agreement was signed on financing these projects.
"This expands the list of products we need. In addition, we create better conditions for the transportation of Belarusian goods in Russia, we try to help and support each other," the Deputy Prime Minister added.
According to the Deputy Prime Minister of Russia, at the end of 2022, the trade turnover showed an increase of 12% and amounted to $43.4 billion. At the same time, Russian exports to Belarus amounted to $21.4 billion, and imports from Belarus - $22 billion.
“Despite all the pessimistic forecasts regarding the decline in Russian GDP, we see that the timely actions of the Belarusian and Russian leadership prevented this scenario and a fall much lower than expected. And the main economic indicators indicate that we manage to synchronize our economies. a very good basis for further integration development, creation of new projects," the Deputy Prime Minister added.

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