OREANDA-NEWS. October 24, 2008. The potential of economic cooperation between Belarus and Russia is not used to the full, Nikolai Bortsov, a deputy of the Russian State Duma, a member of the economic policy commission of the Parliamentary Union of the Belarus-Russia Union State, said during a seminar on the issues concerning the construction of the Belarus-Russia Union State. The seminar was held in Soligorsk (Kaliningrad oblast, Russian Federation) on October 23.

The mutual investments and the mutual trade have increased significantly for the recent years. For the seven years, the Russian investments in the Belarusian economy increased 17 times to reach \\$1.3 billion in 2007. In 2000, the Belarusian investments in the Russian economy made up USD 1 million and in 2007 - USD 1 billion. In the period under review, the mutual trade increased from USD 9.3 billion up to USD 26 billion. In 2008, the trade between the two countries may hit USD 36 billion.

The budget of the Belarus-Russia Union State grows as well. Next year, it is expected to be increased by 20% up to RUB5 billion.