Import Substitution in the Union State: Directions for Effective Cooperation between Russia and Belarus

Lenchuk E.B.

Abstract

In the context of a sharp restriction in the supply of high-tech products, equipment and technologies due to the imposition of sanctions by the West, the problem of high import dependence of the economies of Russia and Belarus has seriously deteriorated. As a result, there exist threats of a break in production chains and shutdown of a number of industries and sectors of the economy. Already in the short term, this cannot but affect the overall economic dynamics of the development of the two states. Under such conditions, the search for ways of effective import substitution of products from Western countries is becoming one of the most important tasks for ensuring the sustainability of the economies of Russia and Belarus. One of such ways is to combine efforts in this area within the framework of the Union State and reach a new level of interaction in both industrial and scientific- technological sphere. The implementation of such a course within the framework of the Union State objectively requires the creation of a common strategy for import substitution, the implementation of which should be carried out within the framework of a coordinated industrial policy, joint programs and projects. The accumulated experience in the implementation of joint sectoral and scientific and technological programs in the Union State creates a good basis for this process. In addition, particular attention should be paid to the development of a common scientific and technological policy within the framework of the Union State, which ensures the mobilization of the scientific and technological potentials of Russia and Belarus not only in the creation of import-substituting products, but in the development of competitive products and technologies in such high-tech sectors of the economy as microelectronics, machine tool building, mechanical engineering, aviation, space, digital technologies, energy, pharmaceuticals, etc. Effective interaction in the scientific and technological development requires building up the scientific and technological potential of the two countries, increasing investment in this area, creating an appropriate institutional environment, as well as improving the quality level of training of researchers, specialists and engineers.

Keywords

import substitution; sanctions; industrial policy; scientific and technological cooperation; scientific and technological potential.

DOI: 10.31249/rsm/2022.04.01

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