Report: Minsk, Moscow agree on unified industrial policy

MINSK, Feb 15 (PRIME) -- Minsk and Moscow have signed an accord on a unified industrial policy, Belarusian state news agency BelTA reported on Wednesday.

The goal of the accord, signed by Belarusian Deputy Prime Minister Pyotr Parkhomchik and Russian Industry and Trade Minister Denis Manturov, is to support imports substitution and speed up localization of production in the Union State of Russia and Belarus.

The governments of the two countries plan to expand the support mechanisms in the Union State, as well as lower the barriers, stimulate development of new types of competitive products, and create conditions for progressive financial products.

The agreement will be in force for three years and it will be automatically prolonged for the same term each time if no country objects to it.

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