15 Mar 2022 10:02

Belarusian PM sure Western companies will regret decision to quit markets of Russia and Belarus

MINSK. March 14 (Interfax) - Belarusian Prime Minister Roman Golovchenko has said he is convinced that foreign companies that have left the Russian and Belarusian markets due to sanctions will regret their decision.

"I am convinced that those who have left the market, especially the Russian market, will regret it," Golovchenko said after talks with Russian Prime Minister Mikhail Mishustin in Moscow on Monday.

An important set of issues on the talks' agenda dealt with changes in relations between Russia and Belarus in the field of production and cooperation following the imposition of sanctions, Golovchenko said, according to the Belarusian government's press service.

"Therefore, we have adopted a decision to replace imports with domestic products as much as possible. I cannot say we can replace 100% of imports, but, as regards a large number of positions where Russian colleagues relied on Western components and did not consider other offers, the situation has now changed, and there is a great deal of understanding that we need to ensure our own technological independence," he said.

First and foremost, it is the machine building sector, where the largest number of foreign companies have announced their withdrawal from the Russian market, Golovchenko said, adding that it is car manufacturing, the production of agricultural hardware and microelectronics.

"We have agreed to form 15 subgroups in almost all sectors of the economy. Mutual plans for deliveries are being considered. In other words, it is not a return to the centrally planned economy, but it is an absolute necessity in turbulent conditions. We must ensure guaranteed mutual supplies at the very least," he said.

"Whereas earlier we completed, especially for high-demand goods, where they will go to, whether they will be exported or will remain in the Republic of Belarus, the needs of the domestic market will definitely be covered now both in the Republic of Belarus and in the Russian Federation. All excesses will go to third countries, will be exported," the Belarusian prime minister said.

The second point is import substitution, and here all main items will be broken down "to the screw", Golovchenko said.

"We will decide who will do, with what time limits and with what funds. It is important that the financing allocated by the Russian Federation for import substitution will spread to us as well. Mechanisms will be worked out now," he said.

Belarus has been granted "not just most favored nation status, but super most favored nation status," Golovchenko said.

"Even some remaining issues, administrative restrictions, regulation on deliveries of Belarusian products will be removed. It is the imperative of our time. I cannot say that it is a forced decision. Rather, it is an absolutely normal decision, an allied approach," he said.