RUSSIA, December 22 - High-Level Group of the Union State Council of Ministers.

Deputy Prime Minister of the Russian Federation Alexei Overchuk and Ambassador Extraordinary and Plenipotentiary of the Republic of Belarus to the Russian Federation Dmitry Krutoi, who has the authority of Deputy Prime Minister of the Republic of Belarus, co-chaired the meeting of the High-Level Group of the Union State of Russia and Belarus Council of Ministers. The meeting at the Rossiya exhibition in the Government Coordination Centre was also attended by State Secretary of the Union State Dmitry Mezentsev, Ambassador Extraordinary and Plenipotentiary of the Russian Federation to the Republic of Belarus Boris Gryzlov and representatives of the relevant ministries and departments of the Russian Federation and the Republic of Belarus.

The co-chairs of the High-Level Group reviewed their common efforts to promote bilateral trade and economic cooperation, laying emphasis on the development of the transport infrastructure, railway, freight traffic, repealing the restrictions on the transit of Belarusian timber products, social protection of people with disabilities, digital access to both country’s markets, and other issues requiring joint solutions. They also signed a securities prospectuses agreement.

“Our people have become accustomed to the format of building one economy for the two countries – Russia and Belarus. Time has shown that our leaders have chosen the right format.  Despite the pressure on our countries, we are both finishing this year with high macroeconomic indicators,” said Mr Overchuk. “By the end of the year, we expect Russia’s GDP to grow by at least 3.5 percent. In Belarus, the relevant figure was 3.8 percent in 11 months. Our figures are much higher than in Europe that imposed the sanctions on us,” he added.

The growth in trade has a positive impact. In January-October of this year trade went up by 8.4 percent over the corresponding period in 2022. In the past year, trade reached an all-time high at $43.4 billion.

Mr Overchuk noted that the implementation of the 28 union programmes is providing additional support for the Russian and Belarusian economies and their rapprochement. “We are on the finishing stretch of our comprehensive, three year plan to implement the main goals for the 2021-2023 period. The current stage of our integration is largely aimed at bringing our economies and legal regulations together, as well as at equalising the conditions for the economic entities of Russia and Belarus,” said Mr Overchuk. “For instance, for businesses we need to ensure a transparent system of tax administration and control over the formation of added value chains, and provide Belarusian companies access to our state purchases and the other way round. We were trying to figure out how this could be done under the guarantees of Belarusian banks. This reduced the barriers for Belarusian commodity producers. It was also necessary to create equal conditions for the shipping companies in our countries. Eventually, these measures will create a better business environment. They will help preserve and create jobs and incomes, thereby improving people’s living standards,” he said.

The Union State Council of Ministers approved a new integration package for the next planning period of 2024-2026 at its meeting on November 29 of this year. It is ready to be submitted for consideration by the Supreme State Council. The document includes 120 events in different areas of interaction. “Our Belarusian colleagues and us focused on developing cooperation in the cultural and humanitarian area,” Mr Overchuk emphasised.

The two countries continue strengthening their interregional and cross-border cooperation. Over 80 Russian regions maintain trade and economic ties with the Republic of Belarus. Moscow and the Moscow Region, St Petersburg, the Republic of Tatarstan, the Smolensk, Kaliningrad, Bryansk, Nizhny Novgorod, Samara and Orenburg regions are Belarus’ biggest trade partners.

The speakers at the meeting noted the joint efforts of Russia and Belarus in industrial cooperation and import substitution. “Owing to the allocated funds, we are expanding the production of components for agricultural equipment, including combine harvesters, and modernising the manufacture of dump trucks and building equipment. This work helps us establish new cooperation ties and create new jobs,” Mr Overchuk said.

He noted that in addition to the economic effects, the results of integration work have been achieved in different areas of cooperation. “Thus, we have developed information exchange in veterinary and phytosanitary control in an effort to protect the health and lives of the citizens of Russia and Belarus. We have also introduced the labelling of goods, thereby reducing the risk of illegal and dangerous products getting into Union State markets. Thanks to the agreement on servicing aircraft, we have evened out the conditions for airlines and increased the number of flights between Russia and Belarus. People can travel between our countries in more comfortable conditions. This is also facilitating the development of tourism,” Mr Overchuk said.

“Through a common effort we are laying the foundation to further deepen integration ties in the Union State and create a favourable environment for economic growth. The goal is to improve the living standards of our people,” said the Deputy Prime Minister.

The sides signed an agreement on securities prospectuses between the Russian Federation and the Republic of Belarus. The goal of the document is to make the financial markets of Russia and Belarus more reliable and stable and to create a common economic space and legal foundation for the common market. The market should provide for the free movement of goods, services, capital and labour on the territory of the participating states, equal conditions and guarantees for the operation of economic entities, and ensure freedom of issuance and trade operations for securities by the Union State members.