It is needed to create at least equal conditions for the operation of Belarusian free economic zones (FEZs) on the market of the Eurasian Economic Union (EEU), Belarus President Alexander Lukashenko said at the session to discuss the operation and development of free economic zones on 27 December, BelTA has learned.

“In the near future, starting from 1 January 2017, the terms of work of FEZ resident companies will change significantly. The documents passed within the framework of the Eurasian Economic Union abolish certain customs privileges. We have to take these requirements into account,” the President said. “At the same time, in the tough competition for investors' capital our free economic zones should not become less competitive on the platform of the Eurasian Economic Union. It is needed to create at least equal conditions for their operation on the EEU market.”

Alexander Lukashenko remarked that the government has prepared proposals in the form of a draft decree aimed at raising the investment appeal of FEZs and stimulating the investment activities of resident companies.

The head of state emphasized that the creation of favorable conditions for investment activities on the territory of Belarus is an important tool for ensuring the dynamic development of the economy. “This is the main task for the government,” the President said.

One of the priorities of such work is the formation of free economic zones. When they were established, it was supposed that these zones will be the centers of investment appeal in Belarus, will help raise the export of products and create new jobs. “It was planned to create attractive new jobs in knowledge-intensive industries,” the Belarusian leader added.

The session was attended by the government officials supervising the performance of free economic zones, people involved in the development of the corresponding legal framework, representatives of FEZ administrations responsible for the investment raising and creation of new jobs, and directors of FEZ resident companies.

Alexander Lukashenko raised a number of questions of crucial importance at the session. These include the measures that should be taken to cover the losses of FEZ resident companies and preserve favorable business conditions for them; the efforts to enhance the competitiveness of products on conventional markets.

The President also wondered if the submitted proposals help support existing companies and stimulate the inflow of new external and internal investments.

“We should not be too slow to act. Principled decisions are needed today because on 1 January 2017 the resident companies of free economic zones will start working in new economic conditions,” Alexander Lukashenko concluded.