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Economy & business

14.03.2016

Poland to assemble Belarusian MAZ buses
Poland to assemble Belarusian MAZ buses Buses MAZ 203088, corresponding to Euro 6 emission standard, will be assembled in the Polish city of Płońsk by Glaspo Motors Company. The assembly production of motor vehicles MAZ in Płońsk was officially opened in September, 2014. Glaspo Motors Company began with the production of vehicles for firefighters and public services. Now the parties are talking over the details of the contract for the assembly of buses, adapted to the European market. That the first vehicles are expected to go off the assembly line already in 2016.
Legal entities allowed foreign currency operations at Belarusian Currency and Stock Exchange
Legal entities allowed foreign currency operations at Belarusian Currency and Stock Exchange Legal entities will be able to apply for the purchase and sale of foreign currency at the Belarusian Currency and Stock Exchange. Green light for non-professional market participants will turn on March 21. Belarusian financial authorities also plan to involve physical persons in the formation of exchange rates. This direction is promising and, according to experts, relevant regulatory documents may appear as early as 2017.
Belarus, Thailand ready to work on global scale
Belarus, Thailand ready to work on global scale Belarus and Thailand are ready to work on a global scale. In order to implement this mutual intention Belarus' parliamentary delegation on March 14 will pay an official visit to Bangkok. The negotiations, including with the leadership of the Kingdom, will span five days. During this time, the parties intend to fill with concrete projects their cooperation in trade and economic sphere. This, in particular, should be made possible thanks to the first joint business forum. The focus will be placed on the expansion of the legal framework.

13.03.2016

Economically beneficial pension age in Belarus: women at 60, men at 63
Economically beneficial pension age in Belarus: 60 for women, 63 for men Today's guest of the TV program Week on the CTV Channel is former Minister of Economy of Belarus, author of the first program of socio-economic development of the country, Doctor of Economic Sciences, Professor Vladimir Shimov.
China to hold pension reform in 5 years: CTV teleconference with Central China TV journalist
China to hold pension reform in 5 years: CTV teleconference with Central China TV journalist The whole world is moving towards increasing the retirement age. Some countries have already passed this way, and some, such as China, are just beginning the reforms. The other day the head of the Ministry of Human Resources and Social Security of China, a country with more than a billion people, said that the PRC will carry out this reform within 5 years to reduce the burden on the state pension fund. Xiang Zhongnan - China Central Television reporter from Beijing - has more details. The CTV Channel has recently contacted him.
Kirill Rudyi, Belarus President's aide
Why do Belarusian companies need depositary receipts? Let's try to explain in simple language what is so revolutionary about the recent presidential decrees. Our guest today is President's Aide Kirill Rudyi. Mr Rudyi, hello. Kirill Rudyi: Hello! Two decrees were signed by the President. They may be little understood by ordinary working people. In particular, the depositary receipts. What is it?

11.03.2016

Vladimir Makei
MFA: Year 2015 marked by improving cooperation with leading Asian economies To boost its export potential, Belarus should take the opportunity of the Western cooperation, of the Eastern strategic capacity and of the promising "remote arch" markets (Asia, Latin America, Middle East and Africa). The Ministry of Foreign Affairs reflected on the previous year's work of the diplomatic service institutions on March 10.

10.03.2016

Leonid Marinich, First Deputy Minister of Agriculture and Food Products of Belarus
Japan ready to cooperate with Belarus in agricultural production and technologies Japan is ready to cooperate with Belarus in the agricultural production and technologies. The Japanese agriculture and livestock industries corporation announced it on March 9. Currently, the international food and beverage exhibition takes place in Tokyo. Belarus participates in it for the first time and is represented by 20 organizations. In Tokyo, the Belarusian agrarians demonstrate meat and dairy products, potato, cereals and the dietary foods popular in the Orient. The consumers did justice to the Belarusian cheese and dry milk.
International Monetary Fund
International Monetary Fund: Another global economy meltdown possible There may be another global economy meltdown. This warning was made by the International Monetary Fund. The experts are appealing to the politicians for immediately addressing a slowdown in economic growth and new threats posed by instability in the commodity and financial markets.

05.03.2016

"Women in Business" program
10 million euro for "Women in Business" program in Belarus The European Bank for Reconstruction and Development (EBRD) will provide 10 million euro for the program "Women in Business". The project will be operating in 15 countries alongside Belarus. Francis Delaey, Head of Office in Belarus of the EBRD:We are sure that businesswomen can bring their enterprises to a new level thanks to this support. We think that 10 thousand women will be consulted in line with the program.

04.03.2016

Minsk National Airport
Belavia to put all regional airports in place and to increase number of flights to Europe Belavia Belarusian airlines plan to operate charter flights from all the regional airports. Regular flights from Gomel, Grodno and Brest to Kaliningrad will be performed this summer. The aircraft will also fly to the summer resort Palanga in Lithuania. By the way, the European direction is the most popular one. Thus the number of flights and the capacity of the planes will be increased. And the ticket prices will be reduced. The flight fares fell by about 20% over 2016.

03.03.2016

the Economic Standing Committee
Belarus GDP up 6% over past 5 years The GDP of Belarus increased by almost 6% over the past 5 years. The Economic Standing Committee organized a meeting at the Belarus House of Representatives on March 3. The Parliament received the Government's agenda for the period up to the year 2020. The deputies will review the document on the next session in spring. It was mentioned on the meeting that the immediate goal is the efficiency of the domestic resource use and inward foreign direct investment. In general, the government intends to boost the economy on the three levels.

02.03.2016

Business
State program concerning small and medium enterprises development till 2020 approved The Belarusian government approved the state program concerning the development of small and medium enterprises till 2020. To make business in Belarus attractive, it was decided to make the registration procedure for enterprises and the procedure for obtaining permission for the construction much easier, to provide investors’ security, to increase the foreign trade index, and to reduce the time spent during border and customs control.
Ambassador of Germany
Economic cooperation between Belarus and Germany should be strengthened Belarus and Germany find themselves on the new stage of the development of their bilateral relations, according to the statement made by Ambassador Extraordinary and Plenipotentiary of Germany Peter Dettmar. On March, 2, the ambassador met with Belarusian MPs. The parties pointed out that it is necessary to expand and strengthen their relations in the economic sector. Especially, they have to establish close cooperation in the sphere of innovation technology, power industry, mechanic engineering, and manufacturing industry.

01.03.2016

Interview with Alexander Lukashenko
Alexander Lukashenko gives interview to CCTV On March, 1, President of Belarus Alexander Lukashenko gave an interview to China Central Television. The President answered a number of questions concerning the most significant results and prospects of the cooperation between Belarus and China. In particularly, the construction of the China-Belarus Industrial Park was discussed. It is one of the most important projects that will create a transcontinental corridor between Asia and Europe.

29.02.2016

Taxes
1st of March - last day to declare income It’s time to compare income. The Belarusian people have a day to report to a tax agency. In particularly, we are talking about some transactions connected with selling cars and real estate. Gifts and income from abroad are also in the list. In addition, those, who rented accommodation and whose income exceeded 43 millions, are obliged to fill in a declaration form. Those, who fail to fulfill this obligation on March, 1, will be subject to administrative punishments.
Housing construction
Decree of the President on housing construction to come into effect on March, 1 The Decree of the President concerning some changes in the norms of the Belarusian housing construction will come into effect on March, 1. Previously, orphaned children could get preferential loans on a general basis, but now they are first in line. Also, there will be some changes in loans for the families that have lived in dormitories for more than ten years. All in all, there appeared five million m2 of housing in 2015, four will appear in 2016. In total, preferential loans for housing amounted to seven trillion rubles.
Meeting with Alexander Lukashenko
Alexander Lukashenko discusses Belarusian financial market efficiency Belarus will place its shares on the international capital market, and partial tax exemption for bond income will be preserved. The efficiency of the Belarusian financial market was discussed on February, 29 during the meeting with the President of the Republic of Belarus. The Government and the National Bank of the Republic of Belarus have prepared three draft decrees.
Vladimir Potupchik
Belarus to stop electrical energy import starting from 2018 According to the announcement of Vladimir Potupchik, the Minister of Energy, Belarus will stop importing electrical energy starting from 2018. The opening of the first reactor of the Belarusian nuclear power plant and a large-scale modernization of the energy sector will allow Belarus to meet its domestic needs. Thus, the production of energy in Belarus appears to be more beneficial than importing it. Moreover, due to the establishment of the common energy market of the Eurasian Economic Union, Belarus will be able to export electrical energy. 

26.02.2016

Meeting with the Deputy Prime Minister of Thailand
Alexander Lukashenko calls for establishment of full-scale legal framework of cooperation with Thailand President of the Republic of Belarus Alexander Lukashenko calls for the establishment of a comprehensive legal framework of the cooperation with Thailand. That was announced by the head of the state during the meeting with the Deputy Prime Minister of Thailand. Today, Minsk has welcomed the Deputy Prime Minister of Thailand, the country famous for its large-scale agricultural sector. Thus, Belarus has a lot to offer.

23.02.2016

Belarus identifies measures to enhance economic efficiency
Belarus identifies measures to enhance economic efficiency Belarus has identified measures to enhance the efficiency of the economy. The corresponding decree was signed on February 23 by the head of state.  It provides for accelerated development of small and medium-sized businesses, attraction of foreign capital, the development and creation of enterprises and gradual decline in interest rates on loans in the economy.
Belarusian, Italian major companies hold talks in Minsk
Belarusian, Italian major companies hold talks in Minsk Belarus and Italy are expanding business contacts. On February 23, representatives of major companies of the two countries gathered in Minsk. The most promising areas of cooperation is agriculture, construction, and food industry. Foreign visitors are interested in expanding sells markets, joint scientific research and investing in the Belarusian economy. Belarusian businessmen also have an opportunity to enter the Italian market.

22.02.2016

Price increases should first be compensated by rising incomes, Belarus President says
Belarus President dismisses Gaidar-style reform proposals Alexander Lukashenko is angered by the situation with the tariffs for housing and communal services. This was the main topic of the February 22 meeting to discuss taxes and excise policy in 2016. The meeting participants also talked about the growth of prices for food, fuel and public transportation. They also discussed issues of privatization. The President noted that the government's proposals to amend the privatization of state property system cannot be accepted.
Small business in Belarus wants to risk without risks, Deputy Trade Minister says
Small business in Belarus wants to risk without risks, Deputy Trade Minister says Deputy Minister of Commerce of the Republic of Belarus Irina Narkevich has given an interview to the TV program Week on the CTV. In view of the recent conflict between self-employed businessmen and the government on the certification issue, what are the results of the talks?
Privatization system in Belarus likely to remain unchanged
Privatization system in Belarus to remain unchanged The Belarus President does not see the need for the reorganization of privatization system. Alexander Lukashenko held a meeting on February 22 on the excise and tax policy in 2016.
Can Belarus capitalize on water exports amid low oil prices?
Can Belarus capitalize on water exports amid low oil prices? World prices of oil have been in the top international news for several weeks. Experts have managed to calculate that "black gold" prices have fallen so much that simple drinking water in many countries has become more expensive than hydrocarbons. Even today, profits from the sale of life-giving water gives more than the sale of oil.
EEU mitigating Belarus' economic difficulties
Eurasian Economic Union mitigating Belarus' economic difficulties The Eurasian Economic Union (EEU) has significantly minimized the difficulties that the economies of the participating countries are experiencing. On February 19 a meeting took place in Belarus' Council of the Republic, the upper chamber of the parliament, to discuss the present and the future of the integration association.
Turkish industrial zone to appear in Grodno region
Turkish industrial zone to appear in Grodno region A Turkish industrial zone will appear in the Grodno region. For this, areas of ​​several hundred hectares in Lida, Smorgon and Grodno will be allocated. Such an agreement was reached during the visit of Turkish businessmen to Prinemansky region. There are several promising projects developing. They are connected with the creation of joint industrial enterprises as well as investing in tourism business.
Belarus represented at food exhibition in Dubai
Belarus represented at food exhibition in Dubai A Belarusian pavilion for the first time appeared at the largest food exhibition in the Gulf region and the Middle East.  The expo in Dubai is attended by more than 5,000 companies from 120 countries around the world. The Belarusian booth features processing enterprises of Brest, Grodno, Vitebsk and Minsk regions. Visitors can taste Belarusian dairy and meat products produced using innovative technologies.

21.02.2016

Alexander Lukashenko: 'Crisis is in our heads only!'
What are Belarus' main economic objectives for 2016? The Belarus President is going to visit Pakistan in 2016. This is a 200-million market that is very profitable for Belarus. It is a promising destination for exports of Belarusian machinery. And serious steps in this direction were already made in 2015.
Belarus' government considering measures to tackle economic problems in 2016
Belarus' government considering measures to tackle economic problems in 2016 The Government of Belarus is solving new problems based on the results of socio-economic development in 2015. The work of the government in 2015 was summed up February 20 at the Council of Ministers. This week, Alexander Lukashenko held a meeting that discussed the foundations of economic growth. Priorities were placed by the Government: increasing exports and efficient import substitution, reduction of costs and the reduction of stocks of finished products, strict discipline and support to entrepreneurial initiatives.
Belarus is CIS' most active partner of Gulf States
Belarus is CIS' most active partner of Gulf States Belarus has become the most active partner of the Gulf countries among the CIS states reads the report of the Dubai Chamber of Commerce.  It is timed to coincide with the Global Business Forum of the CIS countries, which these days is taking place in the United Arab Emirates. According to the document, Belarus is followed by Russia and Uzbekistan. It is said the report will serve as a roadmap for investors from the Persian Gulf. Aviation, logistics, hospitality, retail and real estate are among the key areas of investment.
New MAZ city bus model presented in Poland
New MAZ city bus model presented in Poland Minsk Automobile Plant paves way to the EU through Poland. Here, in the city of Czeladź, a new model of a MAZ city bus was presented. It is equipped with an engine that meets the Euro 6 emission standard. Inside, there is a new interior, which was created to meet the increasing requirements for the safety and comfort of passengers. In addition, the bus has a powerful air conditioning system and a cabin heating system.
Belarus, Azerbaijan presidents discuss trade cooperation
Belarus, Azerbaijan presidents discuss trade cooperation Cooperation in trade and economic cooperation was discussed the February 19 in a telephone conversation by the presidents of Belarus and Azerbaijan. The heads of state reaffirmed the strategic nature of bilateral relations, noting that the interaction of the countries is always in a spirit of friendship and mutual understanding.

18.02.2016

Belarus needs best foreign economic practices combined with Belarusian socio-economic model, economy minister says
Belarus needs to evolve borrowing world's best practices, economy minister says Efficiency and profitability of enterprises, increase in exports and improvement of the investment climate in Belarus was discussed today, February 18, at the expanded board of the Ministry of Economy.  The whole world is going through hard times. In these circumstances, one needs to quickly adapt the economic model to external changes.

17.02.2016

Belarus, Russia developing infrared camera
Belarus, Russia developing infrared camera Scientific modernization within the Union State of Belarus and Russia continues. Belarusian developers, together with colleagues from Russia, continue to work on the program "Union State Infrared Camera." For several years, they have produced optoelectronic systems that convert thermal radiation from various objects into an image on the screen. Thus it is possible to identify attempts to transport illicit substances at the border.
Belarus' parliament to consider government action program for 2016-2020
Belarus' parliament to consider government action program for 2016-2020 A government action program until 2020 has been passed to the Parliament. According to the document, the priority will be the restoration of the competitiveness of industry and investment policies. Particular attention is paid to the development of small and medium-sized businesses, and the creation of new jobs. It is worth noting a strong social orientation of the program. MPs will consider the document at the next session.

16.02.2016

Belarus President dismisses structural economic reform proposals
Belarus President pleased with EU's lifting of sanctions Decisions taken to improve the efficiency of the economy should not have a negative impact on the social sphere in Belarus. Important issues of the socio-economic complex were discussed on February 16 at the Palace of Independence. Taking part in the meeting hosted by the Belarus President were representatives of the Government, the Presidential Administration, the National Bank, the regional leaders and chairmen of corporations.
No departure from political and economic course, Alexander Lukashenko says
No departure from political and economic course, Alexander Lukashenko says Decisions taken to improve the efficiency of the economy should not have a negative impact on the social sphere in Belarus. Important issues of the socio-economic complex were discussed on February 16 at the Palace of Independence. Taking part in the meeting hosted by the Belarus President were representatives of the Government, the Presidential Administration, the National Bank, the regional leaders and chairmen of corporations.
Belarus President: Domestic market imports too much
Belarus President: Domestic market imports too much Export, rational import substitution, employment and investment. Work in these areas will help improve the socio-economic complex. Topical issues of its development were discussed on February 16 at the Palace of Independence. Taking part in the meeting are representatives of the Government, the Presidential Administration, the National Bank, the regional leaders and chairmen of corporations.

15.02.2016

Belarusian dairy products highly appreciated at international exhibitions
Belarusian dairy products highly appreciated at international exhibitions Belarusian dairy produce as earned high praise from Russian buyers at the exhibition Prodexpo 2016. The forum concluded last week in Moscow. More than 50 countries were represented at the large-scale exhibition of food products in Russia. Belarus, among others, was represented by the dairy holding company Grandma's Jug, which won 30 awards. For more than 20 years, the international exhibition Prodexpo has been held. Belarus has been a traditional participant of the forum. Moreover, the country is considered one of the key participants.
Minsk among top 10 most promising investment destinations in Europe
Minsk among top 10 most promising investment destinations in Europe Minsk has entered the list of the top 10 most promising cities in Europe for foreign investors. The rankings has been compiled by The Financial Times. According to experts' estimations, the capital of Belarus took 2nd place among the cities on the cost effectiveness of doing business, and entered the top ten in the category "Top 10 the best strategies to attract foreign direct investment." This year, more than 200 cities took part in the competition. The ranking European Cities and Regions of the Future took into account 96 independent figures.

14.02.2016

Alexander Lukashenko demands to set up trade system suitable for private and state-run businesses
Alexander Lukashenko demands to set up trade system suitable for private and state-run businesses The topic of the week in Belarus was trade, which affects the lives of everyone. All of us go to shops. How successfully Belarusian companies sell the goods produced determines the state of the national economy. The President has given the Trade Ministry additional powers and set the task to organize the work in a new way. To sum up, the main principle is fair distribution of revenue from trade. And work in line with general rules, with no exceptions. For example, what gets on the shelves or entrepreneurial stalls must be mandatory certified. Here bargaining is not appropriate.

12.02.2016

Andrei Kobyakov, Prime Minister of the Republic of Belarus
Belarus to develop economic growth program for 5 years The Council of Ministers February 9, 2016 discussed the draft activity program for the next five years. The situation in the world markets remains difficult, but external factors should be minimized. The government has developed a set of anti-crisis measures and revised forecast indicators.

11.02.2016

1% more Belarusian goods purchased gives country additional $500 million
1% more Belarusian goods purchased gives country additional $500 million The share of Belarusian goods in state trading establishments increased nearly 70% over the last year. In private stores the ratio of domestic and imported goods is not in favor of Belarus. The Ministry of Trade has counted that if the share of Belarusian goods increases at least 1%, $500 million will remain in the country. And it would be beneficial not only for the state trade but for private owners too.

10.02.2016

Stadler train
Europe's largest railway company to continue cooperation with Belkommunmash The largest manufacturer of railway equipment in Europe will continue to cooperate with Belkommunmash. A Swiss investor came to Belarus three years ago. Near Minsk, it has an assembly plant for the production of modern trains. By agreement with the Belarus government the international company is committed to cooperate with Belarusian enterprises. Grandiose plans have been prevented by the crisis and the fall in demand, but the European investor remained true to his word.
Belarus to abandon cross subsidization from 2019
Belarus to abandon cross subsidization from 2019 Cross-subsidies will be eliminated in Belarus before the end of 2018. This measure is stipulated in the government's draft program, approved at the February 9 meeting of the Presidium of the Council of Ministers. The goal is to restore the competitiveness of the industrial complex. Among other activities, the government press service lists decline in interest rates in the economy in conjunction with the reduction in directed lending and inflation. Net income will become a key indicator of the efficiency for heads of organizations.

09.02.2016

Retail trade system overhaul due in Belarus
Retail trade system overhaul due in Belarus To establish a new operation system of the Trade Ministry was the main instruction of the Belarusian head of state who today met with Trade Minister Vladimir Koltovitch. Belarus should develop equal working conditions for all trading entities. The meeting also discussed the development of distribution networks in the region, protection of domestic producers from imports and the work of individual entrepreneurs in the framework of the existing legislation.
Belarus' government
Belarus' government mulling over action program for 2016-2020 Restoring economic growth and improving living standards. The Belarus government on February 9 discussed the program of activities for the 2016-2020. Among the priorities are the restoration of the competitiveness of industry and investment policies. Particular attention is paid to the development of small and medium-sized businesses and job creation. It is worth noting a strong social orientation of the programs discussed.
Belarus to grant state support for new export market explorers
Belarus to grant state support for businesses seeking new export markets The draft program of support of Belarus' export development until 2020 is an example of a situation where the authorities are eager to get advice from the people. The document is available on the website of the Ministry of Foreign Affairs and submitted for public discussion. Over the last decade, Belarus has been developing ties with the markets of Asia, Africa and Latin America, which is often called by Belarusian authorities as the 'long-distance arc.' Many countries in these regions have become close partners of Belarus. For example, Venezuela and China.
Alexander Lukashenko instructs to establish new trade system in Belarus
Alexander Lukashenko instructs to establish new trade system in Belarus Belarus President Alexander Lukashenko has instructed the Ministry of Trade to establish a new system of work when meeting February 9 with Trade Minister Vladimir Koltovitch. Belarus should first of all establish a level playing field for all trading entities. The meeting also discussed the development of distribution networks in Belarusian regions, protection of domestic producers from imports and the work of individual entrepreneurs in the framework of the existing legislation.
Belarus to continue talks with IMF over $3 bn loan
Belarus to continue talks with IMF over $3 bn loan The Belarusian President met February 8 with the Minister of Foreign Affairs to talk over the strategy and tactics of Belarusian foreign policy. It is necessary to develop cooperation both in the west and in the east, especially with partners in the framework of integration associations.

08.02.2016

President Lukashenko hails KGB's efforts in ensuring Belarus' economic security
President Lukashenko hails KGB's efforts in ensuring Belarus' economic security President Alexander Lukashenko on February 8 met with Chairman of the State Security Committee Valery Vakulchik. The Belarusian leader noted the work of agencies in the fight against corruption, as well as in the sphere of economic security.
Individual entrepreneurs in Belarus unwilling to certify goods they resell
Markets in Belarus half-empty as individual entrepreneurs required to certify goods they resell Business circles in Belarus are arguing whether it is legal when self-employed businessmen must certify all goods they resell. Part of these small businessmen simply stopped working since the beginning of 2016. Some, however, have successfully switched to the new scheme. Those who don’t want to comply with the rules seem to neglect people’s safety. Small businessmen in Belarus were given one and a half years to get out of the shadows and organize legal sale of goods in line with all state rules so that the market becomes clear not only on paper but in real life.
Foreign Ministry building in Minsk
Belarus mulling over export strategy for 2016-2020 The development of economic integration in the Eurasian Economic Union (EEU) will eliminate constraints on export growth. This is stated in the draft national export support and development program for 2016-2020, which is now available on the website of the Ministry of Foreign Affairs for a public discussion. It takes into account the experience of previous programs, particularly the current situation of international trade, as well as new trends in globalization and regional integration.
Alexander Lukashenko: Government should work tighter on $7 billion Chinese loan projects
Alexander Lukashenko demands efficient use of China's $7 billion loan The Belarus Government should work harder on developing projects in line with Chinese loan of $7 billion, said President Alexander Lukashenko hearing out a report of the Foreign Minister, Vladimir Makei. The Head of State stressed that it is very good money for Belarus, especially now. These funds can be used to finance many projects.

07.02.2016

Belarus third in world butter export rating
Belarus third in world butter export rating Belarus has taken third place in the world ranking of butter exporters. The 2015 leader of the ranking is still New Zealand, with 438,770 tons. According to the EU's European Commission, according to the results of 2015, the Republic of Belarus pushed the USA in the butter export rating and took third place in the export of these products in the world, said Maria Klimova, Deputy Chief of the Food Department of the Ministry of Agriculture during the international seminar "Innovative technologies and equipment for the dairy industry," which was held in Minsk.

05.02.2016

Belarusian self-employed businessmen unwilling to certify goods, downplay quality concerns
Belarusian self-employed businessmen unwilling to certify goods, downplay quality concerns Not all individual entrepreneurs in Belarus are ready to work under new and transparent rules, which promote safety of goods. Most of them do not hurry to use the procedure for certification of the goods. This means that each entrepreneur must obtain a document that proves that clothing, footwear, perfumes and toys they resell are made legally and of high quality raw materials that are not harmful to health.

04.02.2016

CIS countries need to unite efforts in financial sector, Sergei Lebedev says
CIS countries need to unite efforts in financial sector, Sergei Lebedev says The Commonwealth of Independent States (CIS) members need to unite efforts in the financial sector in the conditions of economic hardship, said CIS Executive Secretary Sergei Lebedev after his meeting with Prime Minister of Belarus Andrei Kobyakov. The need for this has developed in view of the difficult situation in the world, the weakening of the national currency and the sanctions imposed on Russia.
Belarusian-European Investment Forum scheduled to be held in Austria
Belarusian-European Investment Forum scheduled to be held in Austria The Belarusian-European Investment Forum is scheduled to be held in Austria. Representatives of the Belarusian Foreign Ministry will discuss the matter with a European Commission delegation, which is in Minsk these days. In addition, the sides will raise issues of interaction of the Eurasian Economic Union with the EU, in particular the development of trade turnover and mutual access to markets of Belarus to the European Union, and the state of negotiations on Belarus' accession to the WTO.
Supreme State Council of Union State
Belarus-Russia collaboration: Discussions during Supreme State Council of Union State The Belarusian export goods found in Saint Petersburg could be a good illustration of today’s economic strategy of Belarus. This week Saint Petersburg has become the arena for the council on business cooperation. Belarus and Saint Petersburg are inclined to restore their trade turnover worth of two billion dollars. The premiers, Andrei Kobyakov and Dmitry Medvedev, have confirmed their collaboration plans on the threshold of the Supreme State Council of the Union State that takes place this February in Minsk.

03.02.2016

Belarus to increase effectiveness of combating tax evasion
Belarus to increase effectiveness of combating tax evasion Pseudo-entrepreneurship and tax evasion make up almost half of crimes identified by financial investigations bodies. The effectiveness of combating such offenses will increase thanks to decree No14. It will come into force in April.  According to the document, after the disclosure of the activities of a pseudo-entrepreneurial structure, financial investigation bodies will identify businesses that used their services. They will be asked to pay the missing taxes.
Vasily Zharko, Minister of Health
Belarus reaches zero balance between birth, mortality rate for first time since 1993 Belarus has reached zero balance between birth rate and mortality rate for the first time since 1993, according to Vasily Zharko, Minister of Health. The successful implementation of demographic security programs, technical re-equipment of maternity hospitals, and improvement of professional skills of the staff has contributed to the achievement of these results.
MAZ becomes new trucks sales leader in Ukraine Minsk Automobile Plant took the lead in terms of sales of new trucks in Ukraine. In 2015, 900 new trucks were registered in Ukraine and nearly a third of them are MAZ-made. Thus, compared to 2014, Minsk Automobile Plant increased its sales in Ukraine by 44%. Along with MAZ Swedish and German manifacturers are in the top three in the ranking. 
IAEA praises Belarusian experience in building its own NPP
IAEA praises Belarusian experience in building its own NPP The International Atomic Energy Agency praised Belarusian experience in its own nuclear power plant construction. Such an assessment of the IAEA was announced on February 2 in Vienna at the headquarters of the organization, which is hosting a high-level seminar on the development of nuclear energy infrastructure. It brought together country delegations from around the world, who are standing at the very beginning of the development of their nuclear industry.

02.02.2016

How much can Belarus earn on milk exports?
How much can Belarus earn on milk exports? Against the backdrop of a steep peak price of "black gold", "white gold" prices are, on the contrary, growing. For Belarus, milk and dairy products are one of the main export items.  The taste of Belarusian milk is known not only in the Ministry of Agriculture, but also all around the world.  Belarus accounts for about 5% of world exports of milk exporting diary produce to 52 countries. In 2015, Belarus entered the markets of Niger, Syria and even the Philippines. Next plans are to expand into Vietnam.
Belarus working on agricultural business development program
Belarus working on agricultural business development program The state program on the development of agricultural business in Belarus until 2020 was reviewed February 2 at the Government. Now the country has more than four thousand dairy farms. Almost 40% of them are equipped with modern facilities and milking robots. Belarus is also constantly modernizing pig and poultry farms. In five years there should not be a single loss-making enterprise in agriculture, the government said. In 2015, the export of Belarusian agricultural products amounted to more than $4 billion.
Belarusian NPP to be presented at IAEA meeting in Vienna
Belarusian NPP to be presented at IAEA meeting in Vienna The building of the nuclear power plant in Belarus will provide additional guarantees of economic security, said February 2 the head of the Belarusian delegation at an IAEA's high-level meeting on the development of nuclear energy infrastructure in Vienna. The Belarusian nuclear power plant will annually replace about 5 billion cubic meters of natural gas. This will significantly reduce greenhouse gas emissions. The cost of electricity produced in Belarus will decrease. At the annual session of an IAEA workshop Belarus serves is a "country in focus". 
Belarus to determine oil production volume taking into account world prices
Belarus to determine oil production volume taking into account world prices Belarus will determine the volume of oil production, taking into account world prices. At the forefront will be the economic feasibility, note the environmental agencies of the country. Traditional extraction of minerals on previously discovered fields will continue. However, new fields will be discovered, too. Now oil prices are falling, so the state will apply the regime of the rational use of resources. The plans include production of glass sands, building stone and basalt. Also, Belarus will be looking for new kinds of mineral waters.
Development strategy of EEU single commodity market discussed in Minsk
Development strategy of EEU single commodity market discussed in Minsk The formation of the development strategy of a single commodity market in the Eurasian Economic Union was discussed today, February 2, in Minsk. Minsk is hosting the first Eurasian Mining and Exploration Forum. In the framework of this plan, it is planned to develop a common approach to the geological information and its processing. This will allow a more accurate assessment of the importance of deposits as well as calculation of the economic impact of their production.

01.02.2016

Minister of Natural Resources and Environmental Protection of Belarus Andrei Kovkhuto
Belarus to develop new deposits of minerals, including oil in 2016 In Belarus, in 2016, will continue the traditional production of minerals, and begin development of new deposits, including oil, Minister of Natural Resources and Environmental Protection of Belarus Andrei Kovkhuto told reporters in Minsk Monday. "The main focus for us is the production of traditional types of minerals. Also, we are talking about new fields, including oil since this is the most cost-effective raw material, despite the fall in prices," said A.Kovkhuto.

31.01.2016

Dmitry Krutoi, Deputy Minister of Economy of the Republic of Belarus
Development Bank to support Belarusian export The Development Bank of Belarus will be actively involved in supporting the Belarusian export, said the Ministry of Economy, commenting on the new version of Directive No3.  According to the document, in 2020 the markets of the Eurasian Economic Union and the EU should account for an equal amount of domestic exports (33%), and the same number of goods and services should be exported to the markets of other countries, no matter how far they are.
Belarus, Russia PMs discuss 2016 cooperation prospects
Belarus, Russia PMs discuss 2016 cooperation prospects Belarus and St. Petersburg are going to recover a turnover of $2 billion. The city on the Neva River on January 29 became a platform for a business cooperation council. Also, talks between the governments of Belarus and Russia were held. The premiers, Andrei Kobyakov and Dmitry Medvedev, confirmed the joint plans and in anticipation of the Supreme State Council of the Union State - the meeting will be held in February in Minsk - they checked whether the countries are on the same page on the key issues.
Belarus adopts state investment program for 2016
Belarus adopts state investment program for 2016 The Belarus State Investment Program for 2016 has been approved by the Decree of the President. It includes 99 objects, to which about BYR 4.5 trillion will be directed. It is planned to start financing of the construction of 19 new facilities, including 9 residential buildings for families bringing up orphans, kindergarten, a boiler water intake in Ostrovets, and the second artificial runway at Minsk National Airport.  In total, it is expected to commission 36 facilities in 2016.

28.01.2016

Belarus, Ecuador sign intergovernmental agreement on tax cooperation
Belarus, Ecuador sign intergovernmental agreement on tax cooperation Belarus and Ecuador have signed an intergovernmental agreement on tax cooperation. The document will facilitate the development of transparent trade and economic relations between the sides. It will help avoid double taxation and identify those who try to dodge taxes. It will also strengthen business contacts and give impetus to the development of new investment projects.
Belarus, Russia agree to discuss syncing of economic steps
Belarus, Russia may sync economic policies The Presidents of Belarus and Russia have agreed to thoroughly discuss the syncing of actions in the economy. In a telephone conversation, Alexander Lukashenko and Vladimir Putin discussed a schedule of upcoming joint events. In particular, the presidents talked over a meeting of the Supreme State Council and the Forum of Belarus' and Russia's Regions. 

26.01.2016

Alexander Lukashenko sees no need to change Belarus' economic course
Alexander Lukashenko sees no need to change Belarus' economic course Develop resistance to external factors without deviating from the chosen course. Today, January 26, the Belarus President is holding a meeting to discuss topical issues of economic development. In recent years, all countries have to get used to the new realities: economic slowdown and lower oil prices. It affects Belarus, because the purchasing power of Belarus' trading partners is now lower, especially since Russia and hence Belarus are particularly sensitive to shocks in the oil market.
Indian company seeking Belarus' potash deliveries
Indian company seeking Belarus' potash deliveries An Indian company has signed a five-year memorandum on deliveries of Belarusian potash fertilizers. The countries will also expand the bilateral cooperation in the field of pharmaceuticals and energy.  Among the priorities for 2016 is the creation of joint ventures, as well as the implementation of new projects on the use of alternative energy sources. Active cooperation will continue in the field of defense, engineering, science and business.  In 2015, trade between Belarus and India amounted to about $400 million.

25.01.2016

Less advertising due in Minsk subway?
Less advertising due in Minsk subway? There should be less advertising in the Minsk subway, said chairman of the Architecture and Urban Planning City Committee of the Minsk City Executive Committee Pavel Luchinovich at a meeting of the city executive committee. The specialist agrees with citizens' claims about the dominance of advertising in the subway. This is especially true for stations with large passenger flows. They are Yakuba Kolasa Square and Kamennaya Gorka, which are literally crammed with advertising. At those stations, some say, advertising is quite aggressive.
Belarus' economic potential to be presented in Lyon January 25
Belarus' economic potential to be presented in Lyon January 25 The presentation of the economic and trade potential of Belarus will be held in Lyon. On January 25 a Minsk delegation will visit the French city. Representatives of the Foreign Ministry, the Minsk city executive committee, the Chamber of Commerce and Industry will help the Belarusian Embassy in France to present Belarus in a better way. The presentation will last 2 days.
Belarusian satellite Belintersat-1 to be put on planned orbit January 25
Belarusian satellite Belintersat-1 put on planned orbit January 25 On January 25, Belintersat reached the planned orbit. The first Belarusian communications satellite was launched on January 15. After "Belintersat-1" takes a given position in the geostationary orbit its testing will begin. These tests will last up to three months. This space project provides Belarus and other countries with communications services, including television and radio broadcasting, as well as satellite Internet. Coverage is 100% of the territory of Belarus and also Europe, Africa and Asia.

24.01.2016

How did oil become speculative product? Oil price effects on Belarus
How did oil become speculative product? Oil price effects on Belarus The focus of the economy in the week was focused on the ups and downs of world and national currencies as well as their dependence on oil prices. Black gold prices set the tone on the stock exchanges this week. The Belarusian ruble was also affected. There are a lot of reasons for change in Belarus' currency basket but they all fall into two main groups: external and internal factors. Experts state that about 80% of price changes of the Belarusian ruble are due to external factors.
Alexander Lukashenko: Private enterprises should be supported
Belarus should support private enterprises, President Lukashenko says The Belarus President visited the unitary enterprise Minotor-Service, which has recently organized the production of military equipment on a new site. By the way, 80 Belarusian enterprises cooperate with Minotor-Service. Alexander Lukashenko highlighted the benefits of such collaboration. Only the chosen ones can produce combat vehicles. Belarusian experience in the USSR times and later business operations ensured the efficiency of Minotor-Service today.
Will financial market woes stir up prices in Belarus?
Will financial market woes stir up prices in Belarus? There will be no sharp rise in prices in Belarus, said the Ministry of Trade January 21 explaining that there are no apparent reasons for this: the market is supplied with enough goods and a very strong competition is between retail chains, which will guarantee absence of unreasonable price hikes.
Vadim Iosub: Belarusian economy strongly dependent on oil prices
Vadim Iosub: Belarusian economy strongly dependent on oil prices On January 22 the Belarusian ruble has strengthened its position. After yesterday's peak in the exchange rate of the Belarusian ruble experts watched trading on the currency and stock exchange with redoubled attention. At this time, the dollar and the euro fell by 470 and 970 rubles, respectively.

21.01.2016

Weakening of the Belarusian ruble due to external factors - expert
Weakening of the Belarusian ruble due to external factors - expert Experts associate the weakening of the Belarusian ruble with external factors. First of all, it is happening against the backdrop of the fall of the Russian ruble and the decrease in oil prices. How in the world markets, the price of black gold fell to $28 per barrel. In addition, the Belarusian economy is closely linked to the economy of our EEU partners. Today Russia is the largest export market for Belarusian goods, which accounts for about half of the total volume of Belarus' foreign trade.
First 90-ton BelAZ trucks started working in Vietnam The first dump truck BelAZ with a carrying capacity of 90 tons has been put into operation in Vietnam. The trucks were assembled by Zhodino specialists together with Vietnamese workers. Among the advantages of the machinery are lower operating costs, including fuel, and greater productivity. The trucks are adapted to different climatic conditions. The vehicles are equipped with modern diesel engines and a new electric transmission which does not require gear changes.
Vladimir Ulakhovich, Deputy Chairman of the Belarusian Chamber of Commerce
Belarusian companies mulling IPO on world's leading stock exchanges IPO as an opportunity to enter international markets. Belarusian companies are considering offering of their shares on the leading stock exchanges of the world. Many companies that became their players made their name in this way and attracted additional capital.
Belarus government, National Bank publish set of measures to address 2016 socio-economic development
Belarus government, National Bank publish set of measures to address 2016 socio-economic development The Government and the National Bank published a set of measures to address the socio-economic development of Belarus in 2016, including reduction in the cost of housing services and the offering of shares of Belarusian enterprises in global stock markets. In foreign trade among the main priorities is the diversification of export and increasing supplies to far-reaching countries. Investment activity and the development of joint projects is of particular importance.
Belarus tightens norms against dishonest businessmen
Belarus tightens norms against dishonest businessmen Cure from dishonest businessmen. The President of Belarus has signed the decree, which should increase the efficiency of fight with unscrupulous businessmen. All the measures set out in the document are based solely on the legal, transparent and clear rules of the business community. In particular, now businesses, against which the State Control Committee issues an order, are liable for special taxation. Under the new rules, those who fulfill this requirement and voluntarily pay taxes, will be freed from administrative responsibility. 
Alexander Lukashenko: Private enterprises should be supported
Alexander Lukashenko: Private enterprises should be supported Private enterprises should be supported, noted by the Belarus President during his visit to the unitary enterprise Minotor-Service. The production of equipment for military use has been set up at a new site in a short time. About 80 Belarusian companies work with this production facility. Alexander Lukashenko, in a conversation with the director, focused on the benefits of such cooperation.

20.01.2016

Belarus Prime Minister visits Vitebsk Engine Repair Plant
Belarus Prime Minister visits Vitebsk Engine Repair Plant Results of the socio-economic development are being summed up in the Vitebsk region. Prime Minister of Belarus Andrei Kobyakov January 20 visited a number of enterprises in the region. At Vitebsk Engine Repair Plant the Premier talked about import substitution. The plant produces modern agricultural machinery and equipment for livestock farms. Products are 2-3 times cheaper than foreign analogues. For example, in cooperation with the Academy of Sciences, the plant has developed a planter with simultaneous fertilization.

19.01.2016

How will economic turmoil in China and Russia affect Belarus?
How will economic turmoil in China and Russia affect Belarus? The global economy is still shaking. The price of OPEC oil basket has fallen to a 13-year minimum. Quite bad news is coming from China. The economy here has shown a minimum growth in the last 25 years. Oil is no longer a lifeline that keeps afloat Russia and indirectly Belarus. Expensive national currency is always bad if you do not live in America, which issues the world's money. The intention of many states in this situation is classic: close the internal market, devalue the currency as much as possible and even make it non-convertible.
Belarusian Currency and Stock Exchange gets extra functions
Belarusian Currency and Stock Exchange gets extra functions Services of the Belarusian Currency and Stock Exchange will become more attractive for investors. After a presidential decree, the stock exchange is given additional functions. The document will significantly reduce the risks for financiers as transactions will now be more transparent. The Belarusian Currency and Stock Exchange can now independently open current accounts on its site and correspondent accounts in foreign banks. It can also conduct foreign exchange operations with the National Bank.
Alexander Sabodin, financial analyst
Belarus' National Bank calls on commercial banks to adhere to official exchange rate The recent slump in the exchange rate of the Belarusian ruble against the major currencies has caused disturbances to businesses and ordinary Belarusians. Partially the fall is due to the external conditions that affect the rate of the Belarusian ruble (BYR). The National Bank of Belarus has encouraged commercial banks to adhere to the official exchange rate of the Belarusian currency. The essence of the recommendations is that the exchange rate in exchange points does not deviate from the official rate more than 2%.
Master plans for Minsk's satellite towns approved
Master plans for Minsk's satellite towns approved The President of Belarus has defined the satellite towns of Brest, Grodno and Minsk. The head of state has signed a decree, which also specifies the schemes of the complex territorial organization of regions.  The document identifies priorities for socio-economic development of certain areas, their engineering and transport infrastructure. Minsk's satellite towns will be Dzerzhinsk, Zaslavl, Logoisk, Rudensk, Smolevichi and Fanipol. Brest will have Zhabinka in this status, with Skidel being Grodno's satellite.
Belarus NPP's reactor vessel production process on video
Belarus NPP's reactor vessel production process on video A plant making the reactor vessel for the Belarusian nuclear power plant has published a video of the entire production process. The Belarusian order was executed by a Russian plant in Volgodonsk. It took three years to create a huge pipe, which weighs more than 300 tons. Once the future reactor vessel was assembled, there were held a number of tests aiming to reveal defects. The Volgodonsk plant shipped the finished product in autumn 2015.
Belarus to provide humanitarian aid to Kyrgyzstan
Belarus to provide humanitarian aid to Kyrgyzstan Belarus to provide humanitarian aid to Kyrgyzstan. Currently, the cargo, worth about BYR2 billion, is being prepared to be sent to areas affected by the quake. Warm blankets and tents will be very helpful to people, who were left homeless. As a result of aftershocks on Monday January 18, dozens of families were left homeless.

18.01.2016

World economy going through difficult times: What is financial outlook for Belarus?
World economy going through difficult times: What is financial outlook for Belarus? The world economy is going through hard times. One of the main indicators of the global economic processes - the price of black gold - last week continued its rapid decline, which was immediately reflected in other financial and economic indicators, including exchange rates.

17.01.2016

Belarus is among nuclear safety leaders
Belarus is among nuclear safety leaders Belarus is among the safest countries in a nuclear safety ranking, according to a report by the United States. Belarus' place in the ranking is 8th. Australia for the third time in a row topped the list.  Nuclear safety is evaluated in two main categories: protection against theft of nuclear material and sabotage. Among the states possessing nuclear weapons materials, Iran and North Korea have the worst indicators. In terms of sabotage risk, several Arab countries and Israel are at the bottom of the list. 

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