First Deputy Minister of Economy: Cooperation between Belarus and Russia

Belarus and Russia are interested in developing each other’s economies. And the proof of that is the numbers. This was told on the air of the TV channel “First Information” by First Deputy Minister of Economy Ivan Vezhnovets, reports sb.by.

This year we have one of the most record volumes of foreign direct investment from the Russian Federation. It has already exceeded $3 billion. And the growth rate is quite high – more than 20% compared to the corresponding period last year, he said. But what is also very important is that mutual investment from Belarus to Russia is also at a historic high, and the growth rate is more than 30%.

And these indicators prove that there are serious cooperation ties between the countries. There is a mutual interest on both sides to invest in the development of each other’s economies, to get the corresponding effects. Russia and I are currently implementing a large number of integration projects. This is a purposeful, long-term work to develop cooperation ties, said Ivan Vezhnovets.

A number of projects have already been completed this year. “We have certain projects that we have completed in the production of logging equipment. We have projects that are currently being implemented, there is already about 90% readiness in mechanical engineering. This is BELAZ, Gomselmash, Saleo, bearing plant, the First Deputy Minister noted. These projects provide an opportunity in the future to build cooperation chains between our machine-building enterprises and the same enterprise of the Russian Federation.

What effects Belarus receives from investments, said the first Deputy Minister of economy