Belarus and Vologda Oblast Expect to Increase Trade Turnover to $1 Billion by 2030

The Vologda Oblast of Russia and Belarus are seeking to increase trade turnover to $1 billion by 2030. This was announced by the region's governor Georgy Filimonov following a meeting with Belarusian President Alexander Lukashenko, BelTA reports.

Belarus currently ranks first in the Vologda Region's foreign trade turnover, with its share amounting to about 20%, Georgy Filimonov informed. However, he believes that even these figures are far from being the maximum; the potential is much greater. Therefore, various projects and initiatives are being discussed to intensify cooperation in the trade, economic, investment, humanitarian and tourism spheres. According to him, it is planned to expand the range of mutual deliveries in order to achieve an increase in trade turnover to $1 billion by 2030.

In January-June of this year, the trade turnover between Belarus and the Vologda Oblast amounted to 316.4 million dollars, which is 100.9% of the same period last year. In general, the indicator has shown growth in recent years: if in 2020 the trade turnover amounted to 335 million dollars, then in 2024 the figure for mutual trade reached 678.1 million dollars.

The basis of Belarusian exports were liquid crystal devices, lasers, tractors and truck tractors, parts and accessories for cars and tractors, nitrogen fertilizers, etc. From the Vologda Oblast to Belarus, mainly flat rolled products of various types of steel, wire, copper and copper alloys, waste and scrap of ferrous metals, as well as other types of products were supplied.