Customs Union manufacturers urged to cut down on components import

MOSCOW. July 13. KAZINFORM The Belarusian Chamber of Commerce and Industry calls upon manufacturers in the Customs Union member states to reduce their import of components as much as possible. President of the Belarusian Chamber of Commerce and Industry Mikhail Myatlikov told media in Moscow on 12 July, BelTA has learned.

According to BelTA, among other things the share of imports in products made in the Customs Union member states was discussed at the conference on developing the Customs Union and the Single Economic Space on 12 July. It turns out that the share of imported components is quite large for some manufacturers. These products cannot keep up with modern day reality due to the low added value, said Mikhail Myatlikov. "We believe it is necessary to encourage domestic production, fully localize manufacturing and make the transition from importing components to making our own," said the official. It will allow creating new high-tech enterprises and jobs, adding a stream of tax revenues to the state budget.

"We will pursue these goals and will protect those manufacturers that use this scheme. Ways of cooperation can vary and may include the foundation of joint ventures," said Mikhail Myatlikov. In his words, all these matters were raised before heads of government, heads of ministries and government agencies of Belarus, Russia and Kazakhstan.

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