Business news

MINSK, 23 November (BelTA) - Ways of boosting Belarusian export and resolving the problems in this area were high on the agenda of a meting at the Ministry of Foreign Affairs of Belarus, BelTA has learned.

Belarus’ Minister of Foreign Affairs Vladimir Makei presided over the meeting with the heads of 45 public and private companies of Belarus, leading suppliers of products and services and representatives of the unions, associations, insurance companies, leasing companies and banks.

Opening the meeting, Vladimir Makei stressed that the companies need to identify the obstacles to export in the past period and set the goals and objectives for the coming year.

The Minister drew attention to the fact that active work is underway on the national export promotion program for 2016-2020. Vladimir Makei invited the meeting participants to share their views on what needs to be done next year and in the medium term. "We need to have a meaningful discussion of what we can do to promote export and to overcome the obstacles that exist today," he said.

The head of the Ministry of Foreign Affairs noted the difficult situation in foreign trade. According to him, the foreign markets contracted, Belarusian export decreased significantly. In January-September this year the export totaled 75.7% of the export in the same level a year earlier. The biggest drops were registered in the exports of the construction industry, light industry, wood processing. Of particular concern is the situation in Vitebsk and Grodno Oblasts.

In January-September 2015 the surplus of Belarus’ foreign trade in goods and services amounted to $1,184.6 million, or 192.5% compared to the same period last year. Foreign trade of goods and services in January-September made up $49,075.6 million, down 25.7% from January-September 2014. Export totaled $25,130.1 million (down by 24.6%), import $23, 945.5 million (down by 26.8%).

Belarus had a deficit of $509.9 million in foreign trade in merchandise. In January-September 2014 the country had a deficit of $867.8 million. Foreign trade in merchandise shrank by 26.8% to $40,791.9 million. Export of goods dropped by 26.6% to $20.141 billion, import by 27% to $20,650.9 million.

In January-September 2015 Belarus had a $1,694.5 million surplus in foreign trade in services, up 14.2% as against the same period last year. In January-September foreign trade in services amounted to $8,283.7 million (80.6% as against the same period a year earlier). Export of services fell by 15.1% and totaled $4,989.1 million; import went down by 25.1% to $3,294.6 million.