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WTO accession expected to benefit Belarus’ export diversification efforts

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MOGILEV, 28 April (BelTA) – Belarus’ accession to the World Trade Organization (WTO) will enable the country to step up export diversification efforts, Mogilev Oblast Vice Governor Ruslan Strakhar said as he took part in a roundtable to discuss Belarus’ accession to the WTO, BelTA has learned.

The roundtable was hosted by the Mogilev Oblast Executive Committee. It was a hybrid event: some participants joined in via a video link and representatives of the executive committee, Mogilev-based enterprises and organizations attended in person. Representatives of the Ministry of Foreign Affairs and the Economy Ministry also took part in the roundtable.

The event was organized within the framework of the project “Assisting the Government of the Republic of Belarus in Accession to the World Trade Organization through Strengthening National Institutional Capacity and Expertise” that is implemented by the United Nations Development Program in partnership with the Belarusian Ministry of Foreign Affairs and with Russia's financial support.

“Mogilev Oblast, just like Belarus in general, is export-oriented, with more than half of its output bound for export. For some enterprises, this figure exceeds 70%, and several companies export almost 100% of their output. This is why increasing export is our priority, as it will help ensure sustainable economic growth of the region. Mogilev Oblast’s yearly export of goods and services exceeds $2 billion, with the foreign trade surplus hovering around $850 million. Belarus’ accession to the WTO will give an extra impetus to export diversification efforts,” Ruslan Strakhar stressed.

This was the fourth such roundtable held in Mogilev Oblast. It is meant to raise awareness among local businesses of the process and impact of Belarus’ WTO accession and to discuss Belarusian export promotion.

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