Posted: 04.10.2022 09:36:00

EAEU's work under sanctions to focus on microelectronics, pharmaceuticals and aircraft engineering

Mikhail Myasnikovich, the Chairman of the Board of the Eurasian Economic Commission, believes the EAEU countries have enough resources to work under sanctions imposed by the West

Mr. Myasnikovich outlined the areas that need to receive attention in the current conditions, “We understand that the unfriendly steps of the West towards Russia and Belarus will continue – not ending either today or tomorrow. We should think over our further development and work in these conditions. There are many reserves that we must definitely use, and this is primarily our joint investment activity. Belarus and Russia have relevant competencies, and we can make powerful clusters for development of microelectronics. Production of medicines is another direction. This market is not yet vulnerable due to sanctions, and our pharmaceutical companies feel confident. We believe that it is possible to build new facilities that can be both import-substituting and export-oriented. It is impossible to replace everything, and it is not necessary to strive for this, but we can produce ordinary things, such as affordable medicines. The aircraft industry is another serious issue. We have worked out the relevant proposals and found out what components our countries can make. I think a high-tech industry of aircraft engineering will be attractive to all states.”