MOSCOW/MINSK/SEVASTOPOL, Nov 8 (PRIME) -- Russian and Belarusian presidents Vladimir Putin and Alexander Lukashenko on November 4 signed an integration decree of the two countries at a meeting of the Supreme State Council of the Union State of Russia and Belarus.
Lukashenko said that Moscow and Minsk have started a reboot of the common economic zone. “We all understand the necessity of moving forward on the path of the Union State to this or that degree. By doing so, we ensure protection of Belarus and Russia’s interests in the global space,” he said.
Dmitry Mezentsev, state secretary of the Union State, said that the government was not discussing a switch to a common currency at the moment.
“Both the Russian and the Belarusian ruble maintained their stability in spite of the tough 18 months of the coronavirus. It is true that the Union State’s treaty encompasses a switch to a common currency, but no talks are being held on the matter at the current stage,” he said.
Putin said that economic cooperation of the two countries was developing even during the coronavirus pandemic. Energy disputes happen, but the two states achieved serious progress here. The price of Russian gas for Belarus is up to 10 times lower than the spot prices in Europe and about four times lower than the price under Gazprom’s long-term contracts, he said.
Russian Prime Minister Mikhail Mishustin said that the two countries have started forming unified energy markets gradually, while his Belarusian counterpart said that the principles of functioning of a unified gas market of Russia and Belarus would be drafted before July 2022.
Mishustin also said that Moscow and Minsk have created a coordination mechanism for the integration plan, and Putin and Lukashenko would oversee the work personally.
“We are to approve more than 400 acts and bilateral decrees. In fact, we are to create a new regulation on the unified integration basis. This is a large scale task that the governments of the two countries are to solve, and it is a great responsibility,” he said.
The Union State will have a common approach to pensions and social services, he said.
Deep integration of the two countries will create new formats of customs, tax, and energy cooperation, which will be beneficial for the Eurasian Economic Union, he said.
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