Belarus, Russia to sign agreement on import-substituting projects in early September

MOSCOW, (BelTA) – Belarus and Russia intend to sign an agreement on a $1.5 billion loan for the sake of realizing import-substituting projects in early September. First Deputy Prime Minister of Belarus Nikolai Snopkov mentioned it as Belarus' renovated pavilion was opened at the VDNH expo in Moscow on 23 August, BelTA has learned.

When asked when the agreement may be signed, Nikolai Snopkov told reporters: “In early September”.

Speaking about the Belarusian-Russian import substitution projects, which are already under way, the official said that three projects like that are in progress. “One in Leningrad Oblast and two are in the development phase. One cannot say they are finished,” he clarified. “As you know, another 11 plus 9 projects are under consideration.”

“If we look at the economy of Belarus and Russia, at the growth of our mutual trade and mutual investments, the flow of goods, capital, and people, then as a matter of principle, everything going on within the framework of Union State programs, everything going on within the framework of interaction to counteract external threats represents integration projects,” Nikolai Snopkov remarked.

“Belarus and Russia are essentially a joint integration project. One cannot look at and put stress on some individual components. For instance, mechanical engineering or individual components of manufacturing of joint nodes, shipments of engines, sharing of technologies. The two of us together are an integration project,” the first deputy prime minister of Belarus added.