News & Analysis

Belarus proposes setting up trans-CIS companies

Mikhail Myasnikovich, the chairman of the Council of the Republic of Belarus, has announced the Belarusian government’s plans to establish trans-Eurasian companies with the participation of the states of the Commonwealth of Independent States (CIS) and other countries, Belarusian state news agency Belta has reported.

Speaking at a press conference on November 22, the speaker of the upper chamber of the Belarusian parliament said that once these companies are established, they would attract “a great commercial interest” while the administrative burden would be reduced.

According to him, CIS member states could effectively cooperate in setting up joint ventures in areas such as automotive components manufacturing, optics, microelectronic and precision mechanics.

While he praised the already established free trade regimes and investment protections measures in the CIS, he said that the alliance’s free market is not fully operational yet.

“Our task is to remove these barriers, including through adopting appropriate laws and regulations that are harmonized with other CIS member states,” wrote Belta, quoting Mr Myasnikovich.