Trade between Russia and Belarus is set to grow over 28%, year on year, to $24 billion this year, Belarusian Prime Minister Sergei Sidorsky said on Wednesday according to RIA Novosti.
Sidorsky and his Russian counterpart Viktor Zubkov are taking part in a meeting of the Council of Ministers of the Russia-Belarus Union State in Moscow.
"This year trade between our countries will amount to $23-24 billion, with growth of over 28% [year on year]," the Belarusian premier said, emphasizing progress in bilateral trade in "hi-tech and innovative products."
Zubkov said Russia would transfer a $1.5 billion stabilization loan to Minsk later in the day.
Russia and Belarus signed on Thursday an intergovernmental agreement on a loan requested by Minsk in February to pay for energy supplies. The loan will be granted for 15 years at an interest rate of labor +0.75% and with a grace period of five years.
"The money will go to Minsk today," Zubkov said.
On January 1, 2007, Russia raised the price of its gas supplies to Belarus to $100 per 1,000 cubic meters from $46.7 in 2006.