Business news

ISLAMABAD, 25 May (BelTA) - Belarus and Pakistan signed contracts worth $42 million on the first day of a visit of a Belarusian business delegation to Islamabad, BelTA has learned.

On 25 May the Pakistani capital is hosting the Pakistan-Belarusian business and investment forum. On behalf of Belarus the forum is attended by representatives of 25 companies working in the field of oil refining, agriculture, engineering, medicine, chemicals, light industry, and also commercial enterprises. On behalf of Pakistan the forum is attended by representatives of 60 companies.

The Belarusian President's upcoming visit to Pakistan has already given an impetus to the development of bilateral relations, as can be seen by the documents which have been signed already, Chairman of the Belarusian Chamber of Commerce and Industry Mikhail Myatlikov told reporters. “We wanted to bring business, introduce Belarusian companies who are here for the first time to partners in Pakistan,” Mikhail Myatlikov said.

For the past eight years, the volume of Belarus-Pakistan trade has hovered around $50-120 million per year. Pakistan is one of the key markets for Belarusian tractors outside the CIS. Annual supplies make up 3,000-4,000 units.

Mikhail Myatlikov expressed confidence that the range of engineering products in Pakistan will be expanded because the Belarusian delegation in Islamabad includes heads of the companies producing the full range of attachments for tractors and agricultural machinery, which can be in demand in the local market.

In addition to tractors Belarus’ major exports to Pakistan also include potash fertilizers, synthetic fibers, and tires. From Pakistan Belarus imports rice, fruit, food, leather and textile.

Talks between representatives of the business communities of Belarus and Pakistan will continue on 26 May at the Chamber of Commerce and Industry. “Tomorrow will bring new results,” Mikhail Myatlikov said.