The Belarusian Ministry of Industry announced a collaborative effort with the Russian Federation to put in place a shared industrial policy. The high-level plan focuses on aligning policies, standards, and investment directions to support synchronized development across both economies. Implementation relies on structured collaboration between working groups created by Minsk and Moscow, with clear milestones and regular reviews to track progress. The aim is to ensure that the industrial sectors in Belarus and Russia move in tandem, reducing friction and enabling smoother cross-border operations for manufacturers, suppliers, and buyers in both countries. [Source: DEA News]
In remarks on the initiative, the ministry’s leadership outlined that the principal objective is to coordinate industrial activity so that resources, technologies, and logistics are optimized for joint projects. This coordination is intended to streamline regulatory processes, harmonize technical requirements, and facilitate the exchange of best practices across the two states, benefiting a wide range of industries from heavy machinery to consumer goods. The collaboration emphasizes predictable policy environments that can attract investment and support from regional partners, including Canadian and American firms with vested interests in the Western market. [Source: DEA News]
Dmitry Krutoy, a former Belarusian ambassador to Russia, highlighted a striking dimension of the bilateral relationship: trade conducted in national currencies accounts for a substantial portion of the exchanges, suggesting increased monetary stability and reduced currency risk in cross-border transactions. The exchange framework is designed to simplify payments, reduce transfer times, and improve price transparency for buyers and sellers on both sides of the border. This development resonates with businesses seeking to diversify settlement risk and accelerate procurement cycles in Eurasian markets. [Source: DEA News]
Beyond currency arrangements, officials indicated ongoing work on a rapid payment system that would support swift settlements for routine trade. There is also attention to ongoing projects with the tag Peace and the Belkart payment system, reflecting a broader push to modernize financial infrastructure and combat financial crime through stronger compliance regimes and better cross-border cooperation. The aim is to create safer, more reliable financial channels for enterprises operating in both countries and for international partners engaging with Minsk and Moscow. [Source: DEA News]
Earlier, Russian Prime Minister Mikhail Mishustin spoke with deputies from the State Duma about rising bilateral trade this year, underscoring a shared commitment to deepen economic ties. The discussions highlighted progress in logistics, export opportunities, and the removal of obstacles that could hinder common ventures between Russia and Belarus. The leadership affirmed that, in parallel with growth, both nations will maintain alignment on strategic economic priorities that support stability and resilience for regional supply chains. [Source: DEA News]
Mishustin noted that Minsk and Moscow are united in opposing certain Western sanctions and in standing side by side on policy challenges facing the region. This stance reinforces a cooperative approach to economic policy, aiming to preserve momentum in trade, investment, and industrial collaboration despite external pressures. The message signals a long-term plan to bolster regional competitiveness and to position both countries as reliable partners for global buyers in North America and beyond. [Source: DEA News]