The Union State plans to launch a unified electronic digital signature this year
14:00, 2 March
Photo: open source
This year, the Union State plans to launch a single electronic digital signature for financial transactions between Belarus and Russia, as Dmitry Krutoy, Head of the Presidential Administration of Belarus, said in an interview with the First Informational TV channel.
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Union projects and the overall integration of the economies of Belarus and Russia are often attacked by unfriendly states. Dmitry Krutoy explained how much they influence the development of relations within the Union State.
"We are working in a situation where we practically don't notice them; on the one hand, we are essentially doing our job. Of course, for some of the more radical measures that are being announced, a corresponding program or response is being prepared, but, frankly, we need to complete the tasks and activities we have outlined. They are currently funded. Over 95% of our bilateral trade is conducted in national currencies," the Head of the Presidential Administration emphasized.
Furthermore, he said, this year the goal is to complete the implementation of the unified electronic digital signature project.
"This year, we must finally finalize the electronic digital signature project. We are currently transferring the necessary equipment and completing the construction of a full-fledged infrastructure, which will enable us to electronically recognize all transactions conducted as electronic documents. The financial market, our financial companies, has been chosen as the pilot project. I hope this first stage will be successful. If we fully launch the electronic digital signature, along with the pilot project announced by our regulators, the National Bank and the Central Bank of Russia, for settlements in digital currencies this year, I believe they will further mitigate the impact of sanctions. The main sanctions, after all, affect the financial sector. If our opponents want to disrupt the normal functioning of payments, primarily targeting financial institutions, thereby creating problems for the economy, then we must focus all preemptive measures on this area. In my opinion, this is being achieved very well. And if the growth rates of trade turnover and mutual trade exceed the GDP growth rate, let's say, even if we compare them, the payment infrastructure is functioning very well. Plus, third countries that work with us are also aware of the current situation. Alternative instruments and alternative payment routes are emerging, and they are also functioning very well. And there are no problems here," said Dmitry Krutoy.
