Business news

Belarus eager to dismantle barriers in trade with China

MINSK, 5 March (BelTA) – Belarusian First Deputy Economy Minister Yuri Chebotar talked about plans concerning cooperation with China at a session of the ministry’s board on 5 March, BelTA has learned.

In his words, China is a priority in terms of export and investments. Belarus’ export to China rose in 2020 despite the pandemic. The export of Belarusian foods demonstrated the highest growth. “We have several tasks to accomplish in 2021. First, we have to dismantle trade barriers and simplify trade procedures. Second, we have to create zones for free trade in services with China. It is necessary to thoroughly polish every section of the relevant draft agreement and stipulate the provisions that benefit our countries the most,” Yuri Chebotar said.

It is also necessary to attract and spend assets provided as technical economic aid. A number of questions will have to be addressed with regard to the construction of residential buildings in the regions, a swimming pool and a stadium in Minsk, and the promotion of projects in the China-Belarus industrial park Great Stone. Chinese loans for building kindergartens and schools in the regions, loans for buying equipment for hospitals are under consideration, he noted.

Yuri Chebotar also outlined several tasks concerning the development of the China-Belarus industrial park Great Stone. In his words, it is necessary to increase the number of resident companies that pursue manufacturing and business activities up to 40. It is also necessary to attract at least 17 new resident companies and increase the volume of investments.

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