BELARUS NEWS AND ANALYSIS

DATE:

26/12/2007

Russia-Belarus trade to grow 28% in 2007

MOSCOW, December 26 (RIA Novosti) - Trade between Russia and Belarus is set to grow over 28%, year on year, to $24 billion this year, Belarusian Prime Minister Sergei Sidorsky said on Wednesday.

Sidorsky and his Russian counterpart Viktor Zubkov are taking part in a meeting of the Council of Ministers of the Russia-Belarus Union State in Moscow.

"This year trade between our countries will amount to $23-24 billion, with growth of over 28% [year on year]," the Belarusian premier said, emphasizing progress in bilateral trade in "hi-tech and innovative products."

Zubkov said Russia would transfer a $1.5 billion stabilization loan to Minsk later in the day.

Russia and Belarus signed on Thursday an intergovernmental agreement on a loan requested by Minsk in February to pay for energy supplies. The loan will be granted for 15 years at an interest rate of labor +0.75% and with a grace period of five years.

"The money will go to Minsk today," Zubkov said.

On January 1, 2007, Russia raised the price of its gas supplies to Belarus to $100 per 1,000 cubic meters from $46.7 in 2006.

Russian President Vladimir Putin said earlier this month that the price of Russian natural gas to Belarus would remain unchanged next year.

Source:

http://en.rian.ru/russia/20071226/94199522.html

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