Business news

Octavian Calmic noted: “Reaching a trade turnover of $500 million this year or the next one is feasible.” Belarus-Moldova trade turnover rises every year. “We are glad that despite the competition situation in the region Belarus does not enforce any restrictions, tariff or non-tariff barriers against Moldovan goods. Contrariwise, Belarus suggests solutions for developing relations between various economic entities,” noted the Moldovan Deputy Economy Minister.

Octavian Calmic admitted that sometimes things do not proceed as smoothly as they would like, however, thanks to the operation of the intergovernmental commission the sides manage to address emerging issues. In particular, the Moldovan Deputy Economy Minister assured: “On our part we demonstrate the necessary flexibility for the sake of finding a solution to all the existing problems in order to ensure normal trade between our countries on mutually beneficial terms.”

Deputy Prime Minister of Belarus Mikhail Rusy, head of the Belarusian part of the commission, backed the idea of enabling more fruitful cooperation and raising Belarus-Moldova trade figures. He pointed out that while in the last five years Belarus-Moldova trade nearly doubled to exceed $400 million in 2014, in January-May 2015 Belarus-Moldova trade slowed down a bit. According to the Deputy Prime Minister, the sides should step up efforts, straighten out all the narrow places in order to have a trade turnover of at least $420-440 million in 2014.

Both Belarus and Moldova are ready to take various steps to reach the goal, in particular, steps meant to promote joint products to the markets of the Eurasian Economic Union and the European Union.

In 2014 Belarus-Moldova trade rose by 15.4% to reach $411.8 million, with Belarus’ export at $262.2 million. 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. In turn, 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.

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