Russia, Belarus Can Bring Mutual Trade To $50Bln By 2025 - Russian Ambassador

Russian Ambassador to Belarus Mikhail Babich said on Wednesday that Russian-Belarusian trade could reach $50 billion per year by 2025, which would be an over 1.5 times increase compared with the 2017 figures.

MOGILEV (UrduPoint News / Sputnik - 26th September, 2018) Russian Ambassador to Belarus Mikhail Babich said on Wednesday that Russian-Belarusian trade could reach $50 billion per year by 2025, which would be an over 1.5 times increase compared with the 2017 figures.

Russian President Vladimir Putin told Babich during their meeting in August that Russia and Belarus should increase their bilateral trade to $50 billion per year.

"In the near future, we will understand the possible growth rate, as well as the efforts which it is necessary to reach to really bring trade to the level designated by the Russian president � these include a harmonized statutory and regulatory base, and investment opportunities ... If the growth rate amounts to 7-8 percent, this [mutual trade reaching $50 billion per year] will happen around 2025, if the growth rate is 3-4 percent, this will happen in 2028-2030," Babich told reporters.

Babich specified that he considered the goal as "quite achievable." The ambassador added that the implementation of joint integrative projects would contribute to the accomplishment of this mission.

Babich went on to say that Russia and Belarus were currently carrying out a detailed analysis of all areas of their cooperation, including machine building, machine tool manufacture, the petrochemical industry and energy resources.

The Russian-Belarussian trade has increased by 26 percent in 2017, amounting to over $30 billion, according to the Russian Federal Customs Service.