Belarus-Russia trade may top $70 bln this year - Russian ambassador

MINSK. Oct 27 (Interfax) - Belarus-Russia trade may top $70 billion in 2026, Russian Ambassador to Belarus Boris Gryzlov said.

"According to our estimates, the turnover of goods and services between Russia and Belarus may exceed $70 billion by the current exchange rate in 2026. For comparison, our trade with China, which has a much bigger economy and population, stands at around $240 billion. This comparison is an illustrative proof of the depth of our integration with Belarus," Gryzlov said in an interview with the National Defense magazine.

Russia remains the chief market for Belarusian products, and bilateral settlements are almost completely conducted in national currencies, which helps protect trade from exchange rate fluctuations, Gryzlov said.

"Importantly, Russia and Belarus have agreed on the mutual recognition of components and are expanding access of enterprises to support programs. Cooperation is strengthening to develop high-tech production. Joint products with a high degree of localization is now given the status of a Union State commodity. We are expecting it to be viewed as a quality certificate, including on foreign markets. We will continue to expand the list of goods that meet this qualification," he said.

A package of measures has been drafted on the orders from the heads of state to enhance the integration in the upcoming three years, Gryzlov said.