VOLUME OF TRADE BETWEEN RUSSIA AND BELARUS MIGHT EXCEED $16 BILLION BY THE END OF 2004

Trade turnover between Russia and Belarus might exceed $16 billion by the end of 2004, announced Russian Premier Mikhail Fradkov at the opening of the meeting of Russian and Belarus Council of Ministers in the capital of Belarus. "Trade volume might exceed $16 billion by the end of the year. It is a record amount reflecting a dynamic development of our trade and economic relations," announced the Russian Premier. He said that in recent years Russia and Belarus had made great efforts to increase the level of integration and created a legal basis for cooperation between the two countries. The sides signed more than 200 intergovernmental treaties and agreements during this period. Mr. Fradkov also mentioned that during his stay in Minsk he discussed a wide range of issues with Belarussian President Alexander Lukashenko and Belarussian Prime Minister Sergei Sidorsky. "Both Russia and Belarus believe in the great potential of mutual cooperation. They are willing to give it a new boost," the Russian Premier underlined. The agenda of the meeting of the Union State's Council of Ministers consists of 17 issues, including the implementation of the plan on the introduction of common currency of the Union State for the period 2001-2005 and its revision; the implementation of the 2004 budget and the draft of the 2005 budget. In addition, the Council will discuss changes and amendments to the Regulations on the budget classifications of the Union State; an amendment to the Regulations on the committee on tariff and non-tariff policies; a draft of the plan on creating the infrastructure at the external borders of the Union State; the issue of common policies in the sphere of standardization, metrology and certification; the preparation of accounting reports in the sphere of energy industry for 2005; and the main directions of migration policies on the territories of countries-members of the Treaty on the formation of a Union State.