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Belarus seeks to increase exports to distant countries in 2024

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MINSK, 16 November (BelTA) - In 2024, Belarus plans to increase exports of goods and services to geographically more distant countries, BelTA learned from the press service of the Economy Ministry of Belarus.

According to Yulia Zubar, head of the foreign trade forecasting department at the Economy Ministry, the planning documents for 2024 provide for a 7.6% increase in exports of goods and services or $3.8 billion.

"First of all, we will be working to maintain our presence in the Russian market. Our share in Russian imports should remain at least 9%. Secondly, we will seek to increase exports to geographically more distant countries, mainly to African countries. The key reference points for the entry of this market have been identified. These are Egypt, Kenya, Nigeria, Zimbabwe, South Africa and Equatorial Guinea. We are set to bolster the export of food products, machinery, equipment, chemical products," the head of the department said.

These goals will be achieved through, among other things, financial support for exporters within the framework of the president's decrees No. 534 and No. 466. The budget provides for more than Br360 million for these purposes. In addition, already this year, loans in Chinese yuan became available for exporters under Decree No. 534. A decision has been taken to switch to a notification procedure to compensate for losses from export financing.

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