Trade turnover between Belarus and Russia during the first eight months of 2024 increased by 6%. This was announced today, November 1, by the Minister of Economic Development of the Russian Federation, Maxim Reshetnikov.
According to him, the trade turnover between the two countries has already reached 2.9 trillion Russian rubles. According to him, the growth is due to the active development of joint investment projects and the increase in mutual trade volumes.
“Small Russian companies are integrating into the supply chains of the largest Belarusian manufacturers and replacing their foreign counterparts. For example, a Saratov company began supplying hydraulic control valves to Belarusian companies.” – said.
Reshetnikov noted that the activity of Belarusian investors in Russia is also growing. For example, in 2023 the largest machine-building holding company in Belarus launched the production of grain drying complexes in the Ufa Special Economic Zone. At the site of the special economic zone in the Smolensk region, a joint high-tech production of equipment for processing heavy metals necessary for the aeronautical industry, rocketry, the machine tool industry and the oil sector has recently been launched. and Russian gas.
The Russian minister stressed that the investment projects strengthen the technological independence of the Union State. With them, Belarus received a state loan of 105 billion rubles and more than 20 projects are already being implemented. According to him, for Belarus it means guaranteed jobs, and for Russia it means regular supplies of microelectronics, construction equipment, agricultural equipment, automotive and mechanical engineering products.
Let us remember that Belarus and Russia are building a union state. Both countries pay special attention to projects in the field of import substitution.
