10 Mar 2023 15:29

Lukashenko calls for expediting import substitution projects with Russia

MINSK. March 10 (Interfax) - Belarusian President Alexander Lukashenko has called for stepping up joint import substitution projects with Russia.

"It is necessary to expedite the implementation of import substitution projects with Russia to the maximum extent. This kind of production is critical to both countries. Especially microelectronics. Russia needs such products. I am told that the supply of domestic microelectronic products there has grown manifold in recent months," the SB. Belarus Segodnya media outlet quoted Lukashenko as saying at a government meeting.

"Yet we must not rest. We need to win over and secure the Russian market for the future. We should eventually enter other markets as well," Lukashenko said.

Belarusian Deputy Industry Minister Dmitry Kharitonchik said at the end of February that certain Russian-Belarusian import substitution projects were entering the stage of funding and equipment procurement.

"Gomselmash has reached the stage of bank loans for equipment procurement, it has made more headway than others. The projects of Minsk Gear Plant and Minsk Bearing Plant are doing well, and Saleo Gomel and some other enterprises are at work," Kharitonchik said.

The press service for the Belarusian Industry Ministry said earlier that Belarus had prepared 18 import substitution projects with a total value of 80 billion rubles for funding with Russia's 105-billion-ruble state loan.

The Belarusian government's press service said in November 2022 that Belarus and Russia had signed an intergovernmental agreement on Russia's 105-billion-ruble loan for import substitution projects.