Business news

26 Mar 2019

Belarus-Poland trade hits 8-year high in 2018

MINSK, 26 March (BelTA) – The trade between Belarus and Poland totaled $2.550 billion in 2018 marking a record-high over the past eight years, Chairman of the Belarusian Chamber of Commerce and Industry (BelCCI) Vladimir Ulakhovich told the media ahead of the Belarusian-Polish business forum on 26 March, BelTA has learned.

For the first time in the last eight years, Belarus posted surplus in trade with Poland in the amount of $138 million. “We expanded the range of commodity items to 495 in total. Belarus’ major exports to the neighboring country include products of petrochemistry, metallurgy, woodworking, and building materials. There is a base which we can further develop. We need to set a goal of reaching $3 billion in mutual trade while maintaining trade surplus,” said Vladimir Ulakhovich.

Last year, Polish investments in the Belarusian economy amounted to $445 million. Most of the joint ventures operate in the food, construction and trade sectors. “We have developed good practices in what concerns joint ventures. Polish business is happy to work on the Belarusian market, since doing business conditions here are quite comfortable. The Polish economy is largely based on small and medium-sized business. Such enterprises are very mobile,” the BelCCI chairman said.

The Belarusian-Polish business forum has gathered more than 100 Belarusian companies from all over the country and also 13 Polish companies specializing in construction, biogas technologies, production of food, tobacco products, auto parts, furniture, cast iron products, equipment for the food processing industry. The parties are set to consider the prospects for the Belarusian-Polish trade and economic cooperation. The forum will feature the presentation of the business climate of the two countries, and B2B negotiations.