Resolution No.1238 of 12 July 2022
Belarusian banks will be able to provide independent guarantees to participants in the Russian state procurement system, on equal terms with Russian banks. Prime Minister Mikhail Mishustin signed the relevant resolution on launching a pilot experiment in this sphere. The resolution aims to make it easier for Belarusian suppliers to bid on Russian state contracts, and this will facilitate further bilateral economic integration.
In is expected that at the initial stage, Belarusian banks will get officially registered and receive all documents for their subsequent operations in Russia, including national insurance numbers, individual taxpayer numbers and qualified certificates for an electronic signature verification key, and will also register on the Government Services portal and in the single state procurement database. After that Belarusian banks will be able to directly bid in state procurement tenders. Additionally, they will start issuing independent guarantees and collateral. A register of independent guarantees will list the latter.
The experiment is to last until late 2023.
Independent guarantees are a form of financial collateral during state procurement tenders. Banks reimburse clients for the guaranteed sum if suppliers fail to fulfil their obligations.
Granting Belarusian companies simplified access to Russian state procurement tenders is part of the Russian-Belarusian agreements reached by members of the High-Level Group of the Council of Ministers (Government) of the Union State. Deputy Prime Minister Alexei Overchuk and Vladimir Semashko chair the group’s Russian and Belarusian sections, respectively.
There are plans to implement agreements under 28 Union programmes for integrating both countries’ economies.
