Business news

MINSK, 24 February (BelTA) - The United Arab Emirates can become a platform for re-export of Belarusian goods to third countries, UAE Economy Minister Sultan Bin Saeed Al Mansoori told reporters in Minsk on 24 February, BelTA has learned.

The UAE may become the platform for re-export of Belarusian goods to third countries. Belarus-made goods can be promoted to the markets of the Arab states of the Middle East and to the markets of East Africa, Mr Sultan Bin Saeed Al Mansoori said.

According to him, big cooperation opportunities open up thanks to the favorable geographical location of Belarus. He stressed it is important that the Emirati business should get familiar with the country and its opportunities. We need to open doors for mutually beneficial projects. We should work together, study and discuss them and through an ongoing dialogue find ways to implement them," Mr Sultan Bin Saeed Al Mansoori said.

The UAE is the main partner of Belarus among the Arab states of the Persian Gulf. In 2014, the Belarusian export amounted to $59.3 million, up 44% as against 2013. Import rose by 16.5% to $10.4 million. Belarus had a $48.9 million surplus in trade with the UAE.

In 2014, the volume of Emirati investments in Belarus reached $95.1 million, of which $4.2 millions were foreign direct investments. Foreign direct investment on a net basis totaled $1.57 million. Belarus has 15 organizations with the UAE participation.