Business news

MINSK, 23 July (BelTA) – On 24 July Belarus and Ukraine are set to discuss the ways to cancel the current restrictions in mutual trade, including the import duty introduced by Ukraine, spokesman for the Belarusian Ministry of Foreign Affairs Dmitry Mironchik told media on 23 July, BelTA has learned.

The matter will be discussed at a meeting of the Belarus-Ukraine intergovernmental commission on trade and economic cooperation in Chernigov. The event will be chaired by co-chairpersons Belarus’ Vice Premier Vladimir Semashko and Ukraine’s Vice Premier Gennady Zubko.

The meeting will discuss matters related to increasing mutual trade, industrial and production cooperation, leasing, architecture and construction, standardization, the farming sector, transport, and health.

Besides, the parties will talk over the prospects of implementing joint projects in the areas such as the fuel and energy sector, mechanical engineering and pharmaceutics.

It is expected that the agreements reached at the meeting will help intensify cooperation between Belarus and Ukraine in the main areas of the bilateral agenda and will promote the increase of the mutual trade.

Experts of Belarus and Ukraine have gathered in Chernigov today to prepare the meeting, Dmitry Mironchik informed.

"We see the resumption of the work of the intergovernmental commission as a big event. Its previous meeting took place more than two years ago. It is well known that Ukraine is one of the major trading partners of Belarus. Some years the Belarusian-Ukrainian trade would exceed $6 billion. In 2012 it reached almost $8 billion,” Dmitry Mironchik noted.

According to him, the Belarusian side is concerned over the reduction of the trade this year. Although the share of Belarusian products in the Ukrainian market has remained relatively stable, at around 6%, the export in absolute terms fell by more than 40% in January-May. The sale of goods such as fertilizers, combine harvesters, trucks increased. But in general, however, the trend is not positive and has been a concern for the Belarusian side, said Dmitry Mironchik. He added that not always the decrease happens due to objective reasons. "There are artificial barriers to trade such as the import fee. We believe that the intergovernmental commission can play a positive role and become one of the most effective tools to stabilize and increase mutual trade, remove the issues. Belarus and Ukraine are neighbors. We are destined to cooperate and trade,” Dmitry Mironchik added.