Business news

MINSK, 10 November (BelTA) - Belarus invites Lithuania to participate in the projects of the Chinese-Belarusian Industrial Park Great Stone, Belarus’ Economy Minister Vladimir Zinovsky said during a meeting of the Belarusian-Lithuanian commission on trade and economic cooperation in Minsk, BelTA has learned.

Vladimir Zinovsky noted that Belarus and Lithuania maintain good neighborly relations and share the economic interests. "Despite the fluctuations in the foreign economic trends, our countries are traditionally among the most important trading and investment partners for each other," he said.

In this regard, the minister noted the timeliness of the debate, in the format of the commission, of the further steps to enhance trade and economic cooperation in such areas as investment, joint production, agriculture, petrochemicals, transport and high technology. Vladimir Zinovsky recalled the Industrial Park Great Stone and the possibility of establishing manufactures there. Previously the Lithuanian side showed interest in this cooperation. "This is one of the areas where we can make significant progress," said Vladimir Zinovsky.

He expressed confidence that the discussion of the most important issues of bilateral cooperation will help take decisions that will serve the interests of Belarus and Lithuania, consolidate stability and cooperation in the region.

In turn, Lithuania Economy Minister Evaldas Gustas stressed that the expansion of constructive cooperation would promote the development of the two economies. “Belarus is an important trading and economic partner of Lithuania,” he said. According to the minister, the proposals the commission has elaborated today will promote the establishment of new contacts and partner relations.

In January-September 2015 the trade between Belarus and Lithuania totaled $906 million. The Belarusian export was down by 10%. According to Belarus’ Deputy Minister of Foreign Affairs Alexander Guryanov, the number of commodity items supplied to the markets of the two countries has been increasing this year. Besides, Belarus and Lithuania keep the volumes of transit operations. In Belarus there are about 600 companies with the participation of the Lithuanian capital. A total of 250 companies with Belarusian investments have been created in Lithuania. “Mutual investments are distributed among a wide range of sectors: industry, construction, woodworking, retail trade, energy, transport and logistics,” noted Alexander Guryanov.

The Belarusian-Lithuanian commission on trade and economic cooperation signed a protocol of instructions following its meeting on 10 November.

The Belarusian-Lithuanian commission on trade and economic cooperation was established in line with the agreement the two countries signed in 1994. The commission considers the issues of cooperation in energy, transport and transit, tourism, regional cooperation.