Mishustin announced a record trade turnover between Russia and Belarus
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Mutual trade between Russia and Belarus has reached a record level of $45 billion, Prime Minister Mikhail Mishustin announced this at a meeting of the Council of Ministers of the Union State.
“Despite the instability in global markets and the sanctions aggression of the collective West, our economic cooperation is doing well. After a significant growth of 35% in 2021, mutual trade increased by another 12% and reached a record high of $45 billion. And now the positive trend continues,” he said (cit. according to TASS).
Mishustin noted that the implementation of a number of decisions to reorient Belarusian exports from the Western market to the Russian one led to this result. According to the Prime Minister, Belarusian imports to Russia increased by 40% and “for the first time ensured a positive balance of trade with Russia for Belarus.”
In turn, Moscow provided support in strengthening financial and budgetary stability, provided preferences for the supply of energy resources, and helped establish alternative transit routes to friendly countries using Russian transport infrastructure, Mishustin added.
In the fall of 2021, the Presidents of Russia and Belarus, Vladimir Putin and Alexander Lukashenko, signed the integration decree of the Union State, approved the military doctrine and the migration concept. Such cooperation between the two countries has been discussed since 1999. As a result, in 2021, the presidents agreed on union programs aimed at convergence and harmonization in macroeconomic, monetary and industrial policy, and tax legislation. In September 2022, an agreement between Russia and Belarus on the harmonization of customs legislation and cooperation in this area was signed by Putin.
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