Business news

MINSK, 8 August (BelTA) – Businessmen of Belarus and Pakistan will discuss cooperation prospects in Minsk on 11 August, BelTA learnt from the Belarusian Chamber of Commerce and Industry.

On 11 August Minsk will play host to the Belarusian-Pakistani business forum included into the program of the meeting of the Belarusian-Pakistani business council and bilateral talks with Pakistani business circles. It is expected that taking part in the opening of the business forum will be Prime Minister of Pakistan Nawaz Sharif.

“Businessmen of the two countries will get an opportunity to discuss trade and economic cooperation as well as the ways to expand cooperation and implement joint projects in the most promising areas,” the Belarusian Chamber of Commerce and Industry said.

Pakistani companies are interested in establishing business ties with Belarusian companies in the chemical and textile sectors, and industry (cotton, fabric and materials sales), mechanical engineering (the purchase of industrial, quarry and agricultural equipment, component parts to Belarusian vehicles). Potential partners are also interested in the processing and sales of raw materials for the construction industry and the export of agricultural products (vegetables, fruit, grain crops, rice and sunflower oil).

The Belarusian Chamber of Commerce and Industry invites Belarusian companies and organizations interested in expanding contacts with Pakistani companies to take part in the business forum.

Pakistani Minister of Commerce Khurram Dastgir Khan noted earlier that the intensification of the trade and economic cooperation would promote the development of the two countries. He expressed hope that cooperation would open doors for Pakistan to the European region and for Belarus to South Asia and the Middle East.

In the last eight years the Belarus-Pakistan trade has been between $50 and $120 million a year. Belarus’ main exports to Pakistan include tractors, potash fertilizers, synthetic fiber, tires. Belarus mainly imports Pakistani rice, styrole polymers, fruit, food products, leather goods, fabric and textile.

In 2014 the bilateral trade totaled $58.2 million. Belarus’ exports to Pakistan made up $42.6 million (100.3% to 2013), the import was $15.5 million (98.5%). Last year Belarus’ exports of potash fertilizers to Pakistan increased two times, that of truck and tractor parts by 30%.

In January-May 2015 the Belarusian export to Pakistan totaled $19.3 million (117.8% to the same period last year).