Business news

MINSK, 7 September (BelTA) – Belarus President Alexander Lukashenko believes that the existing level of Belarus-India trade is insufficient and deems it necessary to raise the trade turnover. He made the statement on 7 September at the meeting with Indian Minister of State for Commerce and Industry Nirmala Sitharaman and Ambassador Extraordinary and Plenipotentiary of India to Belarus Manoj Kumar Bharti whose diplomatic mission in Minsk is expired, BelTA has learned.

The meeting focused on the trade and economic relations. Last year the Belarusian-Indian trade turnover made up slightly more than $400 million, in H1 2015 it exceeded $300 million. Although the trade volume is on the rise, the two sides believe that there is a good potential to boosting bilateral trade. Therefore, the meeting focused on the concrete vectors of advancing cooperation between the countries, including in the manufacturing sector, mechanical engineering, pharmaceutics, potash mining, IT and education.

In particular, the Belarusian side is mulling over the possibility to set up a large industrial center in India for the production, sale and maintenance of equipment. Partaking in the project will be BelAZ, MTZ, MAZ and other big Belarusian enterprises which products will be sold in India. The Indian side is interested in this idea and is ready to do its utmost to implement the project.

The Belarusian President encouraged Indian pharmaceutical companies to enhance their presence on the Belarusian market and use an opportunity to sell their goods in the EEU member states.

The sides also discussed cooperation in potash mining. Nirmala Sitharaman said that Indian companies are ready to buy potash fertilizers and invest in the Belarusian potash industry.

The Indian side is also interested in raising the number of Indian students in Belarusian universities. In this respect, Alexander Lukashenko said that Belarus will welcome all those who are willing to get education here.

Apart from that, the Belarusian President thanked Ambassador Extraordinary and Plenipotentiary of India to Belarus Manoj Kumar Bharti whose diplomatic mission in Belarus is expired. The head of state stressed that the diplomat has done a lot to bolster Belarus-India cooperation.