Business news

MINSK, 19 January (BelTA) – Over the past 25 years Belarus-China mutual trade has increased almost 100 times, Deputy Head of the Belarus President’s Administration Nikolai Snopkov said as he spoke at an official meeting to mark the 25^th anniversary of the diplomatic relations between Belarus and China, BelTA has learned.

“In the economic sector we have chosen a way of evolution: from trade relations to the implementation of big investment projects with credit support from China. Over the past 25 years our trade turnover has soared almost 100 times. Over the last five years investment has gone up 4 times (over $1 billion), with FDI showing a 13-time increase,” Nikolai Snopkov said.

According to the Deputy Head of the Belarus President’s Administration, Belarus and China have entered a new stage of unifying manufacturing potentials, setting up joint companies both in China and Belarus, and working on third market joint access. The two countries are building the Chinese-Belarusian Industrial Park Great Stone, which, according to Chinese President Xi Jinping, should become a true “pearl” of the Silk Road Economic Belt project.

Nikolai Snopkov also emphasized that Belarus and China entered a new level of military and technical cooperation.