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Belarus shows interest in cooperation with OECD
MINSK, 2 April (BelTA) – Belarus is showing interest in developing cooperation with the Organization for Economic Development and Cooperation (OECD) and prioritizes the improvement of the country’s rankings in the credit risk and export promotion classifications, Belarus’ First Deputy Prime Minister Alexander Turchin said as he met with Head of OECD Eurasia Dission William Thompson on 2 April, BelTA has learned.
Alexander Turchin stressed that the Belarusian government is a strong supporter of private business development. Over the past two years serious steps have been made to boost private initiative, and the government hopes for further consultative assistance from the OECD.
The parties discussed access to financial resources and their cost. Alexander Turchin noted that Belarus does not have problems with it but the cost of credit resources differs in comparison with other countries of Eastern Europe and Baltic states. “Placing the country in the sixth credit risk group is not a stimulating measure,” the first vice premier said.
Today, Belarus is interested in expanding the export of small and medium-sized business, especially to Europe. The country is also showing interest in consultations and other types of assistance from the OECD, including product certification.
As part of the current visit to Belarus, the OECD delegation plans to hold meetings with representatives of the National Agency of Investment and Privatization. “We are currently working on changing the format of this organization so that it could play a more active role in investment generation. We would be grateful for your assistance,” Alexander Turchin said.
William Thompson agreed that export promotion is an important issue for Belarus’ further work with the Organization for Economic Development and Cooperation. The organization has the experience of such cooperation. The example of it is the support provided to Uzbekistan.
The head of the OECD Eurasia Division expressed readiness to discuss possible ways to help Belarus advance in the OECD rankings.
A higher position in the OECD ratings will reduce the cost of credit resources for Belarusian companies. Belarus’ position was last improved in early 2018. The country moved up from the seventh into sixth group. Then, Belarus’ positions in the classification were improved for the first time since 1999.
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