Trade turnover between Belarus and Russia could exceed $70 billion by the end of this year. Russian Ambassador to Minsk Boris Gryzlov made this estimate in an interview with the magazine “National Defense.”
“In our estimates, trade in goods and services between Russia and Belarus could exceed $70 billion by the end of 2026, depending on the exchange rate. For comparison, our trade with China, whose economy and population are many times larger, currently stands at around $240 billion. This comparison clearly demonstrates the depth of our integration ties with Belarus.
Belarusian exports are generally growing, and Russia traditionally remains the main market for the republic’s products. The range of goods supplied is very broad: food products, petrochemicals, agricultural and construction machinery, other specialized equipment, and public transport. I would add that payments between Russia and Belarus are now made almost entirely in national currencies. This helps protect bilateral trade from exchange rate fluctuations,” he said.
According to Gryzlov, a draft decree implementing the provisions of the Treaty on the Establishment of the Union State for 2027–2029 has already been agreed upon. It is due to be signed at the next meeting of the Supreme State Council.
“Our priorities include strengthening our common economic space, coordinating industrial policy, and digital development. In addition, we need to address issues in the financial and energy sectors, as well as in healthcare, culture, education and other areas.
Mechanical engineering, machine-tool manufacturing and microelectronics are enormously important — these are areas on which the technological sovereignty of the Union State depends. This involves long-term planning focused on developing innovative production facilities and implementing projects with a strong scientific and technical foundation. These are precisely the criteria we consider among the key priorities and potential drivers of further growth in the Union State’s economy,” he added.