Business news

MOSCOW, 10 June (BelTA) – A major business delegation from Japan is expected to visit Belarus in July. The relevant agreement was reached during the joint presentation of the industrial, technological and investment potential of Belarus in Japan in the Embassy of Belarus in Russia in Moscow on 10 June, BelTA has learned.

Top executives of major Belarusian companies such as MAZ, BelAZ, BATE, MTZ, Horizont, Vityas, and Gomselmash as well as over 30 representatives of top Japanese companies such as Japan Tobacco International, Marubeni Corporation, Mitsubishi Corporation, Panasonic Rus, and JGC took part in the event.

“The fact that we have gathered here today reflects our shared recognition of the yet untapped potential for economic and investment cooperation between our countries that could serve the interests of both Belarus and Japan,” Ambassador Extraordinary and Plenipotentiary of Belarus to Russia Igor Petrishenko said during the presentation.

In his words, in 2014 Belarus-Japan trade totaled $244 million, with Belarus’ export as low as $12 million. Japan’s share in the gross foreign direct investments in Belarus in 2014 was about 0.01% while the share of small European countries, which scale is incomparable to that of Japan, was much larger. For instance, Netherlands accounted for 13% of the FDI Belarus received in 2014, the share of Cyprus was 6.2%, with the share of Austria at 3.5%.

“Meanwhile, today’s participation of Belarusian and Japanese companies in manufacturing cooperation, the placement of new manufacturing facilities in Belarus create the ability to freely enter the large market of the Eurasian Economic Union,” said the Ambassador. “Apart from that, Belarus is geographically close to another market, which is even larger — the European Union.”

Igor Petrishenko emphasized that in the last few years Belarus did a lot to improve the investment climate. The work did not go unnoticed by international experts and organizations.

Ambassador Extraordinary and Plenipotentiary of Japan to Russia Tikahito Harada drew attention to the fact that the interest of Japanese companies in Belarus had started growing in view of changes of the international situation and the emergence of the Eurasian Economic Union, of which Belarus is a member.