Business news

CHISINAU, 14 July (BelTA) – The 16^th session of the Belarusian-Moldovan intergovernmental commission on trade and economic cooperation as well as a Belarusian-Moldovan business forum will take place in Minsk on 15 July, representatives of the Moldovan government told BelTA.

The events are expected to give an additional impetus to the development of the bilateral trade and economic relations.

The chairman of the Belarusian part of the Belarusian-Moldovan intergovernmental commission on trade and economic cooperation is Deputy Prime Minister Mikhail Rusy. The chairman of the Moldovan part of the commission is Deputy Prime Minister, Economy Minister Stephane Bride. The session is expected to review virtually the entire range of bilateral cooperation, including trade, economic, interregional cooperation, interaction in healthcare, sport, culture, tourism, and support for national minorities of the two countries. As far as economic matters are concerned, the session will focus on the development of manufacturing cooperation ties between Belarusian and Moldovan enterprises, the establishment of joint ventures, interaction in transport industry, civil engineering industry, and energy industry.

The session of the Belarusian-Moldovan intergovernmental commission on trade and economic cooperation and the Belarusian-Moldovan business forum will be held in anticipation of the forthcoming visit of Moldova President Nicolae Timofti to Belarus. The visit is scheduled for 16-17 July.

In 2014 Belarus-Moldova trade rose by 15.4% to reach $411.8 million, with Belarus’ export at $262.2 million. Belarus ranked 14^th in terms of the volume of Moldova’s trade with the world and 4^th in terms of Moldova’s trade with the CIS states. Moldova’s top CIS trade partners are Russia, Ukraine, and Kazakhstan.

Belarus-Moldova trade and economic ties are fueled by the mutually complementary nature of the two economies. Belarus exports a wide choice of industrial products to Moldova including tractors, trolleybuses, trucks, household appliances as well as petrochemical products such as oil products, bitumen, polyethylene, and tires. Work is in progress on exporting new kinds of merchandise such as grain-drying and irrigation equipment, BelGee cars. Belarus is the main consumer of Moldovan wines, fruits and vegetables (42% and 23% of Moldova’s export respectively).

Bilateral manufacturing cooperation has been developing rapidly in the last few years. Joint enterprises have been set up in Chisinau to make Belarusian trolleybuses and tractors. Work is in progress to start assembling MAZ buses in Moldova and make wines in Belarus.