Belarus boosts exports to Russia by $8.5 bln in 2 years - ambassador

MINSK. Feb 12 (Interfax) - Belarusian exports to Russia grew by $8.5 billion over the past two years, while the share of settlements in national currencies topped 90%, Belarusian Ambassador to Russia Dmitry Krutoi said.

"Western sanctions served as the trigger for increasing supplies to the Russian market. The refocusing of $10.5 billion's worth of exports to friendly countries, including the Russian Federation, was actually an existential question for our economy. [...]. Our exports to the Russian market grew by $8.5 billion over the past two years. This remarkable result derives from a combination of factors. Perhaps the most important of them is [...] the new logistics rerouting our cargo and using the capacities of Russian ports," Krutoi said.

"Another important element is, obviously, the operation of the financial and banking system. As of last year, 92% of settlements were conducted in national currencies, the Russian and Belarusian rubles," he said.

Krutoi described the implementation of key investment projects as another important indicator of successful integration.

"Of course, the first one is import substitution programs, by which our component parts are supplied to Russian enterprises, above all engineering plants," he said.

Belarusian representatives have visited practically every large Russian plant ready to cooperate with Belarus over the past two years, Krutoi said, adding that medium-term programs were approved to supply components and auto parts.

"This seems to be one of the few sectors, including those of our economy, that has grown not by a percentage, but by orders of percent," he said.

"Aircraft building is another important sector, which used to be practically at zero. Our industry ministers made separate reports on this sector to the heads of state at the most recent meeting of the Supreme State Council. Russian President Vladimir Putin supported this sector in particular. He invited Belarus yet again to be very active, insistent and even aggressive in joining the programs to supply component parts to Russian aircraft manufacturers," Krutoi said.