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Belarus, Russia urged to tap into potential of trade and economic relations

MINSK (BelTA) - Belarus and Russia do not fully use the potential of trade and economic relations, Belarus President Alexander Lukashenko said when speaking at the session of the Supreme State Council of the Belarus-Russia Union State, BelTA has learned.

“Given the deteriorating global economic environment, this is hardly justifiable,” the Belarusian leader said.

The Presidents of Russia and Belarus agreed that the parties should consider the ways how to engage and maximize the use of resources of the two countries.

“It is already for the third year that our trade has been falling, unfortunately. In 2015, it declined by more than a quarter. We can and must reverse this negative trend by the joint efforts,” the Belarusian head of state.

The President of Belarus noted that any imbalances in the relations between the two countries, any inconsistencies in the economic policies prove sensitive to mutual trade. This matter was also discussed at the meeting of the Supreme State Council. “The removal of barriers to effective functioning of the single market for goods, services and capital, and the mutual support are in the zone of our common interest,” Alexander Lukashenko is convinced.