Business news

MINSK, 29 June (BelTA) – Belarus and Kazakhstan have plans to expand joint production to bring their products to the markets of the EU member states and third countries, Deputy Chairman of the Belarusian Chamber of Commerce and Industry (BCCI) Vladimir Ulakhovich told reporters on 29 June ahead of the opening of the Belarus-Kazakhstan business forum in Minsk, BelTA has learned.

“Today we witness a rapid development of the cooperation between Belarusian and Kazakhstani businessmen. Belarusian business delegations visit Kazakhstan every year, and we host delegations of Kazakhstani entrepreneurs in Belarus,” Vladimir Ulakhovich noted.

He added that last year, Kazakhstani businessmen took part in a similar forum and found Belarusian partners. They have already set up a joint venture to manufacture cartridges for printing equipment. Today they have plans to sell their products in third countries. “The establishment of the first joint enterprise is a result of business meetings that sets a good example to follow. It casts light on the prospects for cooperation in the near future,” Vladimir Ulakhovich stressed.

He also said that the business forum in Minsk has brought together representatives of 75 leading companies. As many as Kazakhstani 15 enterprises from different industries are taking part in it. “The Kazakhstani delegation is comprised mostly of representatives of private business entities that are more mobile and flexible and are interested in setting up joint ventures with Belarus and promoting their products to the EU market. Last year’s forum yielded good results, and we hope that today’s event will also be fruitful,” Vladimir Ulakhovich said.

The Kazakhstani business delegation is headed by Askar Arynov, Managing Director at the National Export and Investment Agency KAZNEX INVEST of the Industry and New Technologies Ministry. He pointed out that over the past five years, the cooperation between the economic entities of Belarus and Kazakhstan has been strengthened considerably. “Over the five years, we have made a great contribution to the trade between the two countries. We have signed export contracts to the tune of over $25 million. We plan to increase our presence in Belarus, bearing in mind that all the companies presented at the business forum have garnered a good reputation on the market of Kazakhstan and successfully export to other countries,” the BCCI Deputy Chairman noted.

He added that in 2015, the trade between Belarus and Kazakhstan totaled around $519 million. Belarus’ exports made up $472 million, while imports stood at $47.7 million. “The bilateral trade fell by some 40% as against 2015, but only in money terms. In physical terms, the trade remained at the same level, and in some fields even increased,” Askar Arynov emphasized. He said that Belarusian companies have gained a strong foothold on the Kazakhstani market selling almost the whole range of their products to the consumers. However, a balance is needed for effective development of the trade and economic relations. To achieve this balance, Kazakhstani businessmen should work harder to expand their presence on the market of Belarus and balance out the presence of Belarusian companies on the common market.

Ambassador Extraordinary and Plenipotentiary of Kazakhstan to Belarus Yergali Bulegenov added that such business meetings are not a mere formality. “All areas are open for the cooperation between the two countries. We are strategic partners. Kazakhstan is interested in Belarus’ achievements, experience and best practices. Now we should bolster the bilateral economic cooperation. Belarusian and Kazakhstani experts estimate that the countries do not fully tap into the cooperation potential. The bilateral trade can reach $2 billion provided that the Kazakhstani side makes more effort to penetrate the Belarusian market,” the Ambassador emphasized.