Business news

MINSK, 12 May (BelTA) – Minsk is set to increase its trade with Latin American countries and balance out its foreign trade, Deputy Chairman of the Minsk City Hall Igor Karpenko said during the international scientific conference that discussed cooperation and integration in the multi-polar world and the experience of Belarus and Latin American countries at the National Academy of Sciences of Belarus on 12 May, BelTA has learned.

“In 2014 the trade between Belarus and Latin American states made up $1 billion 250 million, up 18.7% as against 2013. The share of Minsk amounted to a bit over $273 million. The city earned $82.5 million in export revenues and spent $190.9 on imports in 2014. Minsk should boost its trade and balance out its foreign trade,” Igor Karpenko noted.

In his words, Minsk has all the preconditions for achieving this goal. It has already created the infrastructure necessary for the promotion of Belarusian goods and services in all parts of Latin America. He also pointed out that Latin American countries are interested in Belarus’ experience as the Belarusian socially-oriented development model combines state regulation of economy and market mechanisms. “For its part, Belarus is interested in strengthening its economic cooperation with Latin American countries and large regional integration associations. Latin America is important for our country as a platform for entering the global market. Many Latin American countries are of a particular interest to Belarus’ export-oriented economy,” Igor Karpenko noted.

He believes that Belarus can become a valuable source of technologies, services, and social standards for Latin America. Besides, the promotion of products on this market will help Belarus diversify its export portfolio.