Putin emphasized the issue of import substitution in cooperation between Russia and Belarus

Industrial cooperation between Russia and Belarus is being built with a focus on import substitution. This statement was made by Russian President Vladimir Putin at a meeting of the Supreme State Council of the Union State in Minsk on December 6.

"The scale of bilateral industrial cooperation is growing with a focus on import substitution and increasing the share of products with high added value, which is very important in modern conditions, and even more important - for the future," he said.

Putin specified that only 27 import-substituting projects are currently being implemented. According to the head of state, this figure should be "hundreds of times higher" for the united market. He emphasized that both countries would benefit from such projects.

The Russian president added that the liberation of the Russian domestic market for manufacturers in the field of industry plays a more positive role than creating problems.

Putin also said that Russia and Belarus are going to sign a treaty on the formation of a unified electricity market. The Russian leader noted that its creation will help lower prices for end consumers in both countries.

"We count on the early launch of the united markets of gas, oil, oil products," the president added.

Belarusian President Alexander Lukashenko said during the meeting that signing a union treaty with Russia was the right decision. According to him, Moscow and Minsk can realize their potential only in cooperation. He emphasized the creation of a unique in the world economic space of the two countries.

Putin arrived in Minsk on December 6 to attend a meeting of the Supreme State Council of the Union State together with Lukashenko. The heads of state will discuss both bilateral issues, such as the strengthening of the common defense space, and current world problems.