12.09.2012 / 10:37

Lukashenka Orders to Protect Economy from Consequences of Russias Accession to WTO

The accession of Russia to the World Trade Organization makes the markets of the Common Economic Zone of Belarus, Kazakhstan and Russia an arena of tough competition, Aliaksandr Lukashenka said on Tuesday.

European and American manufacturers and Asian companies are actively entering the markets of Kazakhstan and the Russian Federation, the Belarusian leader said. The general situation in the world economy is becoming more difficult and therefore I would like to hear from the government and the National Bank how the economic security of the country will be ensured.

Lukashenka requested the government to present him the measures to be taken to ensure a rise in exports and a trade surplus in 2012 and the following year.

We should certainly preserve the inflow of foreign currency into the country for further increasing the gold and foreign exchange reserves and maintaining stability in the exchange market, Lukashenka said.

He expressed concern about a decrease in or a decline in the growth of export rate of trucks, agricultural equipment, household appliances, woodworking and metallurgical products.

He pointed out that he had directed that all organizational work for the comprehensive modernization of all state-owned production facilities be completed before the end of the year. Each manager should have a modernization plan aimed at manufacturing competitive goods for export and substitutes for imports.

[Former National Banks Chairperson] Piotr Prakapovich has been returned into active service [as a presidential aide on economy] and tasked with examining each enterprise for modernization, Aliaksandr Lukashenka mentioned.

It is vitally important for us to reach a per-employee earning of no less than $60,000 by 2015, he stressed.