Updated at 17:19,07-01-2021

Scanlan: Russia's accession to WTO - a challenge for Belarusian economy


"Russia's accession to WTO - a challenge for Belarusian economy", Charge d'Affaires of the U.S. in Belarus, Michael Scanlan thinks.

"Adopting the rules of the Common Economic Space, as well as being knowledgeable about the plans of Russia's accession to WTO, and not having a clear time frame of Belarus' accession in this organization, the government has put local businesses at a very difficult position.

With the entering into force of the WTO rules Belarus will have to open its own market, but it won't have the same preferential access to the markets of member countries of this organization as Russia has. Recently, the Prime Minister has publicly ordered to analyze how it will affect the economic environment. Belarusian market will be open to foreign companies in certain sectors, particularly in light industry. Local companies will have to become more efficient, and to increase productivity in order to maintain profitability in such unequal conditions"
, the diplomat said on the eve of his departure from Minsk in an interview with BEL.BIZ.