Belarus catching up with Russia, says economist

Belarus and Russia are gradually coming closer together in terms of economic development, as shown by basic social and macroeconomic indices. Social and economic progress rates and reform arrangements are evening out, and efforts are underway to unify the two countries' economic legislation, said Andrei Kobyakov, Belarussian Deputy Prime Minister, as he was addressing today's parliamentary hearings in Minsk on the two countries' economic prospects.

The Vice-Premier highlighted many unsettled problems in Russian-Belarussian relations. The most acute concerns compensations for Belarussian financial losses with indirect taxation of the exporter country. Regrettably, Russia has not yet determined to shift in its trade with Belarus to taxing the importer country, though Moscow has pledged to do it, and a respective bilateral agreement has been made, pointed out Mr. Kobyakov.