OREANDA-NEWS. January 28, 2009. Belarus and Russia should make informed decisions for the benefit of their manufacturers in order to preserve the growth of commodity and finance flows, said Prime Minister of Belarus Sergei Sidorsky as he met with Russian Economic Development Minister Elvira Nabiullina in Minsk on January 28.

The Prime Minister remarked, progress in joint efforts of the Belarusian and Russian economy ministries had been felt lately. The session of the joint board of the Belarusian Economy Ministry and the Russian Economic Development Ministry allows using mechanisms of both the sides, which is especially important in view of the global financial crisis. Sergei Sidorsky underscored he likes such joint meetings, which address many issues that look unresolvable before the meetings. The Prime Minister said he was confident the joint board of the Belarusian and Russian economy ministries will be held in a normal good manner.

The Belarusian head of government reminded, early last year “sceptics assured us that the determined joint plans cannot be implemented”. But the achieved results speak to the contrary: in 2008 Belarus-Russia trade totalled almost USD 35 billion, 40% up. According to the Premier, while it is lower than import, Belarus’ export is on the rise in many commodity groups and has exceeded expectations.

He attributed the achievements to the hard work of the Belarusian and Russian sides. The previous week the Prime Minister of Tatarstan had visited Belarus. Four years before a joint enterprise had been founded in Yelabuga (Tatarstan) to manufacture Belarusian tractors. In 2008 the enterprise assembled 5,200 tractors “Belarus”, the production is being localised. Apart from that, Belarus is initiating vigorous cooperation with the Kirov plant in Saint Petersburg. Matters concerning joint production of trolley buses are being addressed. “All of it means that the trade turnover will grow on and we will need to take informed decisions, especially in view of the global financial crisis when people lose jobs in various sectors of the economy. We should do our best to find employment for people,” underscored Sergei Sidorsky.

He also said, in the near future the joint plan of actions of Belarus and Russia during the global crisis will be discussed at a session of the Union government in Moscow soon. The meeting will table issues, which need to be addressed faster, including the system of trusted payments.

The Prime Minister of Belarus pointed out close cooperation with Russian banks. In Belarus virtually all branches of Russian banks operate. In January Belarus signed an agreement with the Vnesheconombank of Russia on cooperation during the crisis. An agreement was reached with Prime Minister of Russia Vladimir Putin about discussing Belarusian projects at a session of the supervisory council in February. Their consideration had been initiated by the Prime Minister of Belarus. An agreement with Russian Rosbank has been signed as well. In the near future a cooperation agreement will be signed with Sberbank of Russia.