OREANDA-NEWS. January 28, 2009. Belarus and Russia should make informed decisions for the benefit of their manufacturers in order to preserve the growth of commodity and finance flows, said Prime Minister of Belarus Sergei Sidorsky as he met with Russian Economic Development Minister Elvira Nabiullina in Minsk, reported the Official website www.government.by.
 
The meeting took place ahead of the joint session of the Economy Ministry of Belarus and the Economic Development Ministry of Russia. The Prime Minister remarked, progress in joint efforts of the Belarusian and Russian economy ministries had been felt lately.

The session of the joint board of the Belarusian Economy Ministry and the Russian Economic Development Ministry allows using mechanisms of both the sides, which is especially important in view of the global financial crisis. Sergei Sidorsky underscored he likes such joint meetings, which address many issues that look unresolvable before the meetings. The Prime Minister said he was confident the joint board of the Belarusian and Russian economy ministries will be held in a normal good manner.

The Belarusian head of government reminded, early last year “sceptics assured us that the determined joint plans cannot be implemented”. But the achieved results speak to the contrary: in 2008 Belarus-Russia trade totalled almost US 35 billion, 40% up. According to the Premier, while it is lower than import, Belarus’ export is on the rise in many commodity groups and has exceeded expectations.

He attributed the achievements to the hard work of the Belarusian and Russian sides. The previous week the Prime Minister of Tatarstan had visited Belarus. Four years before a joint enterprise had been founded in Yelabuga (Tatarstan) to manufacture Belarusian tractors. In 2008 the enterprise assembled 5,200 tractors “Belarus”, the production is being localised. Apart from that, Belarus is initiating vigorous cooperation with the Kirov plant in Saint Petersburg. Matters concerning joint production of trolley buses are being addressed. “All of it means that the trade turnover will grow on and we will need to take informed decisions, especially in view of the global financial crisis when people lose jobs in various sectors of the economy. We should do our best to find employment for people,” underscored Sergei Sidorsky.

He also said, in the near future the joint plan of actions of Belarus and Russia during the global crisis will be discussed at a session of the Union government in Moscow soon. The meeting will table issues, which need to be addressed faster, including the system of trusted payments.

The Prime Minister of Belarus pointed out close cooperation with Russian banks. In Belarus virtually all branches of Russian banks operate. In January Belarus signed an agreement with the Vnesheconombank of Russia on cooperation during the crisis. An agreement was reached with Prime Minister of Russia Vladimir Putin about discussing Belarusian projects at a session of the supervisory council in February. Their consideration had been initiated by the Prime Minister of Belarus. An agreement with Russian Rosbank has been signed as well. In the near future a cooperation agreement will be signed with Sberbank of Russia.

Belarus and Russia have prospects for implementing new joint projects, Russian Economic Development Minister Elvira Nabiullina said.

According to the Russian Minister, the joint session is a good way for cooperation. It helps exchange information on the recent changes in the economy and other areas and gives an opportunity to coordinate mutual steps in the global financial crisis. It is very important for the two countries, Elvira Nabiullina said.

In her words, the Economy Ministries of Belarus and Russia are staying in a regular contact, “we coordinate our positions and keep up with the recent economic changes”.

The joint session of the two ministries is set to consider forecast scenarios for the economic development in Belarus and Russia. “In view of the global financial crisis we have to finalize our forecast, elaborate additional anti-recessionary measures,” Elvira Nabiullina said.

Today it is also important to improve the plan of joint actions of the two economies. “There are issues we are totally agreed upon. Some issues are left for discussion. I hope we will coordinate everything and submit the final plan of joint actions for consideration of the Union State session that is due on January 30,” Elvira Nabiullina added.

“I hope this plan will become a basis for the further development of the trade and economic relations between Russia and Belarus,” the Russian Minister said. She also praised the level of the bilateral trade – almost US35 billion. “We should try to preserve this tendency,” Elvira Nabiullina stressed. Besides today it is of high importance to develop new investment projects. Despite the global economic recession, the two countries are possible to implement their joint projects, Elvira Nabiullina believes. Belarus-Russia competitive ability can boost the bilateral trade turnover. “It also greatly depends on our joint actions,” she said. According to her, problems facing Russia and Belarus are similar. The plan of joint actions, therefore, should be clear and well-coordinated.

Elvira Nabiullina has agreed with the Belarusian Prime Minister that in the present-day economic conditions it is quite important “to continue providing jobs, securing household incomes”.