Business news

MINSK, 9 June (BelTA) - Belarus would like to develop and strengthen cooperation with Lithuania, Belarus’ Economy Minister Vladimir Zinovsky said when speaking at the 11th Belarusian-Lithuanian Economic Forum in Marijampole, BelTA has learned.

Vladimir Zinovsky noted that the economic interaction between the two countries has been developing dynamically and is based on a pragmatic and balanced approach. Vladimir Zinovsky expressed hope that during the meeting the parties will not only assess the achieved level of business cooperation but also determine the future areas of its development. "I am confident that together we will strengthen the image of Lithuania and Belarus as promising and reliable partners," the minister stressed.

Lithuania is traditionally in the Top-10 foreign trade partners of Belarus. Due to the situation on the external markets the trade between the countries has recently decreased. In 2014 it totaled $1.4 billion. In the first quarter of this year, the fall continued.

However Vladimir Zinovsky said that in the context of the unfavorable economic environment in the world, the government of Belarus has focused on three key areas in 2015: macroeconomic stabilization, export diversification, and structural measures aimed at improving the competitiveness of the economy.

The minister cited a number of examples of effective interaction with the Lithuanian companies, and once again enumerated the main advantages of Belarus, including the favorable investment and tax climate, good infrastructure, a number of the preferences which differentiate the country from foreign partners.

The 11th Belarusian-Lithuanian Economic Forum is held in the city of Marijampole (Lithuania) on 8-10 June. The forum discusses the trade, economic and investment cooperation between Belarus and Lithuania, including cooperation in the field of transport, transit and logistics, financial markets and banking, agriculture and food industry.

The forum was organized by the Belarusian Economy Ministry, Ministry of Foreign Affairs, the Embassy of Belarus in Lithuania, relevant government bodies jointly with the Lithuanian Confederation of Industrialists, Lithuanian Business Council for Economic and Commercial Cooperation with Belarus, business associations, and the Embassy of Lithuania in Belarus.