Business news

MINSK, 10 August (BelTA) – Belarus invites Pakistan to cooperate in the development of mineral deposits, BelTA learned from Vladimir Ulakhovich, Deputy Chairman of the Belarusian Chamber of Commerce and Industry, before a session of the Belarus-Pakistan business council on 10 August.

According to the source, Pakistan is busy developing major infrastructure projects, which include the development of mineral deposits. Belarus can offer the relevant experience and technologies. Apart from that, Pakistan now has a shortage of electricity. The country has to develop power grids. Cooperation with Belarus may come in handy as well, said Vladimir Ulakhovich.

Belarus intends to supply more machine-building equipment to Pakistan. “Concrete agreements have been reached with regard to a number of Belarusian enterprises. The possibility of increasing mutual trade in food is also being discussed. The relevant logistics is not simple. Negotiations on exporting more Belarusian milk powder and baby food are underway. In turn, Pakistan is ready to export fruits and vegetables to Belarus. We expect that the creation of platforms for interaction between the business circles and further development of the legal base will produce results,” said the Deputy Chairman of the Belarusian Chamber of Commerce and Industry.

During the session of the business council on 10 August the Pakistani side was represented by companies specializing in petrochemical industry, export and import operations, machine building, manufacturing of food products and other areas. Vladimir Ulakhovich underlined that Pakistan is an important market for Belarus in the Asian region. “Pakistan is the world’s sixth largest country in terms of population numbers. The importance of stepping up contacts with Pakistan should be evaluated bearing in mind the need to diversify export,” he stressed.

Vladimir Ulakhovich reminded that on 11 August the program of business events will be continued with a Belarusian-Pakistani business forum and bilateral negotiations between representatives of business circles. Prime Minister of Pakistan Nawaz Sharif is expected to take part in the opening of the business forum. Pakistani companies are interested in establishing business ties with Belarusian companies in the sphere of chemical and textile industries (sales of cotton, fabrics, and materials), machine building (acquisition of industrial machines, mining and agricultural vehicles, spare parts for Belarusian vehicles). Potential partners are also interested in the processing and sales of raw materials for the civil engineering industry and the export of agricultural products (vegetables, fruits, leguminous and cereal crops, rice, sunflower oil).

For the last eight years Belarus-Pakistan trade has been varying from $50 million to $120 million per annum. Belarus’ main exports are tractors (Pakistan is one of the main non-CIS markets), potash fertilizers, synthetic yarn, tires, braid made of synthetic yarn. The main imports are rice, styrene polymers, fruits, food, leather goods, fabrics, textile products.

In 2014 Belarus-Pakistan trade totaled $58.2 million. Belarus’ merchandise export to Pakistan amounted to $42.6 million (100.3% as against 2013), with import at $15.6 million (98.5%). In 2014 Belarus exported considerably more potash fertilizers (twice as much), parts and accessories for automobiles and tractors (30%), synthetic yarn braid (20%). Export of tractors slightly dropped (78 units down).

In January-May 2015 Belarus’ merchandise export to Pakistan amounted to $19.3 million (117.8% as against January-May 2014).