MOGILEV, September 29. /TASS/. The volume of railway transportation between Belarus and Russia by the end of 2023 could reach $1.5 bln, Belarusian Ambassador in Moscow Dmitry Krutoy said on Friday.

"The turnover of goods using the railway between our countries has increased by 25%, the balance has been leveled, and now transportation to both Russia and Belarus are almost equal at $400 mln in each direction in literally seven months. We hope to raise the figure to 1.5 bln [dollars] by the end of the year. These figures seemed unrealistic at the start of last year," he said.

Krutoy added that railway transportation has now surpassed all other modes of transportation between Belarus and Russia.

The ambassador also noted that trade turnover between Belarus and Russia in 2023 is expected to exceed the record levels of 2022. "The total volume of foreign trade between our countries has all the signs of reaching $55 bln," he said.

In 2022, bilateral trade turnover increased by 12% to $45 bln (up to $50 bln according to Belarusian statistics).

Krutoy stressed that, despite sanctions, Minsk and Moscow "ended last year with record-breaking figures with an increase in trade turnover by 13-14 points." "According to experts, we will reach a total trade turnover of $47-48 bln in goods and in the services sector, which today are moving at a slightly faster pace towards a turnover of $7 bln thanks to the transport, construction, and IT industries," he noted.