PM: Belarus' trade with Russia contracts, trade deficit narrows
14:44, 11 March
Belarus' trade with Russia has contracted since the start of 2020 due to a reduction of oil supplies. Deficit in Belarus' trade with Russia has narrowed at the same time, Belarus' Prime Minister Sergei Rumas said as he met with Russian Prime Minister Mikhail Mishustin in Moscow on 11 March.
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“We managed to stabilize trade which currently stands at $35-36 billion. We have the January statistics. The trade contracted, but Belarus' trade deficit, which was very big, narrowed in January as well. This means we are leveling off our flows. We understand why the trade had reduced. This is one of the issues we need to discuss. This is the supply of energy sources,” Sergei Rumas said.
Russian Prime Minister Mikhail Mishustin said for his part that Belarus is an ally and strategic partner for Russia. He added that in 2019 the two states marked 20 years since the signing of the Union State Treaty. “I am convinced that we will be able to disclose the full potential of the agreement in the new decade,” Mikhail Mishustin said. He also stressed that Belarus is Russia's leading foreign economic partner in the CIS.
