Russia to allocate up to $2 bln to Belarus for import substitution
New Delhi: Belarus expects to receive about $2 billion from Russia for joint import substitution projects, President of Belarus Alexander Lukashenko said on Thursday. He said this while hosting an open lecture, which was broadcast live in all schools and universities of the country.
“As for our joint import substitution projects. Now Russia is allocating us about $2 billion for these joint projects,” he said.
On the whole, Lukashenko said, shortly Belarus and Russia will have “countless projects” in all areas.
“Starting from the Memory Train and ending with military-strategic projects,” he said. “We will be strengthening our relations with our main strategic partner – our fraternal Russia,” the President of Belarus stressed.
Traditionally, Russia is both our key trade partner and a major export market for Belarusian manufacturers. In 2021, the mutual trade amounted to $ 40.1 billion, with exports to Russia reaching $ 16.4 billion and imports from Russia — $ 23.7 billion.
The top exports of Russia are Crude Petroleum ($74.4B), Refined Petroleum ($48B), Petroleum Gas ($19.7B), Gold ($18.7B), and Coal Briquettes ($14.5B), exporting mostly to China ($49.3B), United Kingdom ($25.3B), Netherlands ($22.5B), Belarus ($15.8B), and Germany ($14.2B).
Russia’s leading five export partners in 2021 were China, the Netherlands, Germany, Turkey, and Belarus. The value of total exports from Russia to its major trade partner — China — amounted to nearly 69 billion U.S. dollars in 2021.
(Vinayak)
