Business news

MINSK, 22 May (BelTA) – Belarus-Czechia trade went up by 50% in Q1 2018, BelTA learned from Czech Deputy Industry and Trade Minister Eduard Muricky during the Belarusian-Czech business forum in Minsk on 22 May.

The official said: “Belarus-Czechia trade turnover has been on the rise lately. In Q1 2018 the trade rose by 50%. It is an excellent result. Czech companies actively cooperate with Belarusian ones. For instance, the Czech company Mavel participates in the implementation of hydropower projects in Belarus. MEGA Company supplies food industry technologies to Belarus. The civil engineering company Metrostav is building a water purification station in Brest. Apart from that, our countries have advanced mechanical engineering industries, this is why Belarus and Czechia have a good potential for cooperation in this area. As far as computer technologies are concerned, many Belarusian companies operate on the Czech market.”

Belarusian Deputy Minister of Foreign Affairs Evgeny Shestakov stressed that the organization of the business forum indicates the interest of the Belarusian private sector in advancing cooperation with Czechia. “Czechia is an important trade and economic partner for us in the European region. In 2017 Belarus-Czechia trade increased. The trend grew stronger in the first quarter of this year. In 2017 Belarus’ export to Czechia reached $92.7 million, 10% up from 2016. The dynamics is particularly good in the sphere of services where Belarus’ export totaled $80 million in 2017, 76% up from 2016. In January-March 2018 Belarus’ merchandise export to Czechia exceeded $28 million, 48.4% up,” noted the Belarusian deputy minister of foreign affairs.

Czech equipment is used by such Belarusian companies as Naftan, Belshina, and BMZ. It is also used in the power engineering industry. Czechia buys such Belarusian products as tractors, harvesters, refrigerators, microchips, lasers, and washing machines. Czech investments in Belarus total about $40-50 million per annum. “The most promising areas for investing in Belarus at present are information and communication technologies, mechanical engineering, pharmaceutics, agribusiness, and banking. Belarusian companies are interested in setting up joint ventures with Czechia and alliances for making automobile components, agricultural machines, and enterprises to assemble trucks. They are also interested in implementing joint projects in the area of electric transport,” added Evgeny Shestakov.

The Minsk branch of the Belarusian Chamber of Commerce and Industry in association with the Czech Chamber of Trade and Industry for CIS Countries has arranged a Belarusian-Czech business forum and a business matchmaking session involving representatives of Czech companies in Minsk. A session of the Belarusian-Czech commission on economic, industrial, scientific, and technical cooperation will take place in Minsk today.