Economist Gospodarik: EAEU's common electricity market to bring Belarus up to $500 million per year

The EAEU countries plan to launch a common electricity market in January 2027. What prospects does this format offer for Belarus, and what does it mean for the country's economy?

Ekaterina Gospodarik, Head of the Department of the Faculty of Economics at BSU and PhD in Economics:

"Two stages have already been planned for implementation. The first will begin on January 1, 2027, and the second on January 1, 2029. This will not only allow Belarus to create an energy system common to the Eurasian Economic Union, but we will also be able to sell our existing energy surplus to Russia, Kazakhstan, and other EAEU countries, generating additional revenue. The first stage is primarily for fine-tuning all logistics processes and the legislative framework, but everything will be fully operational on January 1, 2029, when a digital exchange is created, where we will be able to fully implement and earn an additional $300 to $500 million per year."

At the meeting of the Supreme Eurasian Economic Council in Astana, EAEU leaders also discussed artificial intelligence. As the President of Belarus noted, AI is not a passing fad, but a practical tool. How do such technologies benefit the country's economy?

"In Belarus, AI is being implemented in various sectors: mechanical engineering, agriculture. Today, we can share our experience with other countries. This primarily concerns the use of artificial intelligence in medicine, where it helps recognize certain initial diagnoses and more accurately interpret, for example, X-rays. AI is also being implemented in agriculture. This includes precision farming, which allows for more efficient use of available resources. Artificial intelligence is used in logistics, customs, and industry, where a "smart eye" monitors the quality of the production process and can filter out defective goods," Ekaterina Gospodarik listed.