Reforms named crucial for Belarus' accession to WTO, success in Eurasian Economic Union

MINSK (BelTA) – It is necessary to go ahead with economic reforms. Chairman of the Council of the Republic of the National Assembly of Belarus Mikhail Myasnikovich made the statement at the 16th international scientific conference held in Minsk on 23 October to discuss structural reforms and economic growth in the light of the problems involved in the predicting and state regulation of social and economic development, BelTA has learned.

Mikhail Myasnikovich said: “It is necessary to understand that reforms are crucial for Belarus' accession to the WTO and the country's successful work in the Eurasian Economic Union. If we don't go ahead with reforms but try to expedite the integration processes on the basis of what we have, the results can be even negative.”

The head of the upper chamber of the Belarus parliament endorsed the main directions of the structural reforms presented by First Deputy Economy Minister Alexander Zaborovsky during the conference. Mikhail Myasnikovich said he was in favor of evolutionary reforms, structural reforms, and reforms at the level of individual economic operators in addition to proper pricing policies, tariff and non-tariff regulatory measures. He said that all these instruments should be used rather vigorously for the sake of increasing the economic well-being of both the country and its citizens.

Mikhail Myasnikovich remarked that Belarus' accession to the WTO will result in structural changes of the economy. At the same time it will open up great prospects for selling Belarusian goods on foreign markets. In his words, accession to the WTO will not result in the automatic reduction of import customs duties across the board. “The World Trade Organization has precision instruments for protecting specific industries. Experts should take care of the matters as they prepare the relevant documents,” Mikhail Myasnikovich said.