Belarus calls on EAEU colleagues to adopt biological security strategy

A reinsurance company will emerge in 2023 to increase export flows and attract investments to the EAEU. The decision in principle to have such a structure was made today in Kyrgyzstan at the Intergovernmental Council.

Belarus insists on active cooperation, urging to move from words to deeds and create its own brands. Finances are being sought for new products. Belarus promises to pinpoint sources of finance at the next meeting of the Prime Ministers of the five countries, assuring that there are enough ideas and projects.

Belarus also urges its EAEU colleagues to adopt a biological security strategy, not ruling out the fact that research on bacteriological threats, which can be used for military purposes, is underway.

There is no doubt that there will be integration. The current global turbulence with sanctions and pressure pushes economic unions to become stronger, technologically and import-independent. The removal of barriers will also strengthen the union. They are seen and it is already a movement forward. After all, the rules of free movement of goods and services should be clear and understandable.

The day before, the Belarusians proposed their project - the Eurasian electric bus. The countries have scientific schools and production facilities. Their association will result in a new joint product. This is the very import substitution.

In general, the cooperation was discussed today at a meeting of the Intergovernmental Council in an enlarged format in terms of financial support.

Artak Kamalyan, member of the Collegium (Minister) for Industry and Agro-Industrial Complex of the Eurasian Economic Commission

“The Eurasian Reinsurance Company will help us with cooperative projects. It was created to speed up exports and attract investment. Its authorized capital is 40% of Russia, 30% of Belarus, 20% of Kazakhstan and 5% each of Armenia and Kyrgyzstan. The shares were determined based on the volume of trade in the common EAEU market. This project is very profitable for our producers. Earlier the risks were insured in the West, but after the introduction of sanctions the insurance premiums will be received by the Eurasian organization.”

Andrey Slepnev, member of the Collegium (Minister) on Trade of the EEC:

It is no secret that the issuance of credit directly depends on the risk assessment. And if a large structure takes these risks, then any funding organization is more willing to cooperate.

Andrey Slepnev, member of the board (minister) on trade of EEC

Development of transport corridors

Transport corridors mean high speed of goods movement, comfortable transit and modern infrastructure. Belarus has included its branches in this list of projects, which will join the Eurasian ones with the access to the East.

"Two transport corridors, the M1 and M10, were included from our country in the list," said Deputy Prime Minister of Belarus Igor Petrishenko. - Deliveries via Russia have increased significantly due to the fact that our western neighbors have introduced far-fetched restrictive measures. Our other EAEU partners are also involved in the reorientation of commodity flows. Besides, Azerbaijan and Uzbekistan are also involved in this work. For us it is also important to enter new markets - Eastern and African countries. But we need some time to readjust. We are dynamically working on this together with our partners".

In general, the dialogue in Kyrgyzstan was quite substantive and somewhere even sharp. Uncomfortable issues were discussed, and a consensus was sought. The benefits are obvious. Here is just one example: due to partnership in the EEU and the CIS, our freight traffic through these markets has increased from 1.5 to 3 times.

Roman Golovchenko, Prime Minister of Belarus:

We have very substantially and clearly emphasized the position of Belarus on further ways of development of the union. The stage of the fight against barriers and obstacles to trade is already over. In fact, a free trade market is operating. We need to look forward now. We should switch from a trade union to an economic and industrial one. We should implement joint industrial projects. Manufacturing ties remain and new production facilities and technologies have emerged. We need to create joint end-to-end products.

Roman Golovchenko, Prime Minister of Belarus

The Intergovernmental Council is a good opportunity to discuss cooperation with colleagues. This country is an observer in the EEU and a trade partner of Belarus. Within six months of this year, we traded with it for $200 million. But importantly, there are new projects, which means growth points.