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Russian government approves draft agreement with Belarus on single industrial policy

The draft states that the agreement is concluded for three years and then automatically extended for the same periods

MOSCOW, January 31. /TASS/. The Russian government has approved a draft intergovernmental agreement with Belarus on a common industrial policy. The relevant order was published on the official portal of legal information on Tuesday. The Industry and Trade Ministry is instructed to hold talks with the Belarusian side and sign an appropriate agreement.

Earlier in January, Russian Deputy Prime Minister and Industry and Trade Minister Denis Manturov and Deputy Prime Minister of Belarus Pyotr Parkhomchik agreed to sign such a document as soon as possible.

According to the draft agreement, Moscow and Minsk are concluding it, taking into account the need for import substitution and accelerating the processes of localizing production in the Union State. The single industrial policy will be implemented by expanding the mechanisms for supporting projects in the Union State, lowering barriers, stimulating the development of new types of competitive products, synchronizing the concept of scientific and technical programs of Russia and Belarus, creating conditions for the "use of progressive financial products" and so on. The draft states that the agreement is concluded for three years and then automatically extended for the same periods.

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