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Economy & business

22.12.2015

Elena Semak, Associate Professor of International Economic Relations Department of the Belarusian State University
Eurasian Economic Union develops preliminary mechanism to monitor Ukrainian transit Eurasian Economic Union (EEU) members - Belarus, Russia and Kazakhstan - have developed a preliminary mechanism to monitor the transit of Ukrainian goods and goods from the European Union.  On 21 December, First Deputy Prime Minister of Russia Igor Shuvalov said that the new mechanism will help completely control the flow of goods from Ukraine via Belarus or Russia to Kazakhstan.
Belarus' President predicts hardest year in country's history in 2016
Belarus' President predicts hardest year in country's history in 2016 The Belarusian head of state has decided on new appointments. Alexander Lukashenko appointed Alexander Pozniak Assistant to the President - Chief Inspector for Vitebsk region. Alexander Guryanov became Ambassador Extraordinary and Plenipotentiary of Belarus to Italy. Previously, he was Deputy Minister of Foreign Affairs and was in charge of foreign economic direction.
Michal Chabros: Poland not facing threat of refugee influx
Michal Chabros: Poland not facing threat of refugee influx Poland is unlikely to face an influx of refugees from the Middle East. This problem is more relevant to Western Europe, who are more economically developed, such as Germany or Sweden, said December 22 charge d'affaires of Poland in Belarus Michal Chabros. On this basis, Poland is not expecting for a surge of illegal migration on the Belarusian-Polish border.
EEU to protect market as Ukraine-EU free trade zone comes into force
EEU to protect market as Ukraine-EU free trade zone comes into force The countries of the Eurasian Economic Union will work out measures to protect the market after the start coming into force of the free trade zone between Ukraine and the EU, said December 21 Belarus President Alexander Lukashenko at a meeting of the Supreme Eurasian Economic Council.  The Ukraine-EU agreement will become effective January 1, 2016. The situation with regard to the free trade zone of the CIS is becoming serious.

21.12.2015

Premier Andrei Kobyakov presenting new trade minister Vladimir Koltovich
New minister voices Belarus trade ministry's objectives for 2016 The staff of the Ministry of Trade on December 21 welcomed the new chief, Vladimir Koltovich. The Prime Minister of Belarus immediately outlined the task set before the new head of the ministry. Andrei Kobyakov, the Prime Minister of the Republic of Belarus:The trade ministry has done a lot in line with your main function. You should strive to develop competition and you have to carry out an active anti-monopoly policy on the domestic market, primarily in the consumer goods market.  
Equipment installation at Belarus' NPP to start in 2016
Equipment installation at Belarus' NPP to start in 2016 The large-scale installation of the equipment at the Belarusian nuclear power plant will begin in 2016. Soon, a reactor vessel, which was sent from Volgodonsk (Russia), will be delivered to the NPP. During the recent visit to Moscow, President Alexander Lukashenko also touched upon this large-scale investment project run jointly by Belarus and Russia. Nuclear fuel for the Belarusian nuclear power plant will be supplied by a Russian company. In general, the construction of a nuclear power plant is going according to schedule.
Belarus creates mineral resources development program
Belarus creates mineral resources development program The economy of Belarus needs to reduce dependence on foreign raw materials, said the Belarus President at a meeting on the status and prospects of the development of raw material base of the country.

20.12.2015

Grodno customs gets giant x-ray cargo screening system
Grodno customs gets giant x-ray cargo screening system A reliable barrier against smuggling. New equipment has appeared at the checkpoint Bruzgi in Belarus' Gomel region. The five-meter X-ray system meets all international radiation standards. During the inspection, all information is displayed on monitors. Just a few minutes - and the contents of the heavy truck are on the screen. Special X-rays shine through the vehicle.
Reappointed Belarus' government: оbjectives for 2016
Belarus' government reappointed: оbjectives for 2016 Belarus President Alexander Lukashenko has formally reappointed the government this week, with only one change - the new trade minister. The candidacy of Premier Andrei Kobyakov has been approved by the upper chamber of the Belarus Parliament, the Council of the Republic, with 102 votes out of 106 possible. 
Belarus' 2016 budget overview
Belarus' 2016 budget overview The Belarusian parliament adopted the 2016 budget on December 18 evening. This year, the deputies had to take into account a lot of negative external factors.
National Bank of Belarus
Belarus' monetary policy guidelines 2016 The Belarus President has approved the main directions of the monetary policy of Belarus for 2016. The corresponding decree was signed by the Head of State on 18 December. The main goal is to reduce inflation to 12%. Belarus will conduct a flexible exchange rate policy, which means dynamism of the exchange rate on the basis of supply and demand in the foreign exchange market.

17.12.2015

Belarus' switches to three-year budget planning
Belarus' switches to three-year budget planning December 17 deputies of the Belarusian lower chamber of the parliament considered the main financial document of the country - the 2016 budget. One of the major innovations is switching to the three-year budget planning.    The main tasks are macroeconomic and social stability. The draft budget for 2016, along with a package of related legislative documents, entered the lower house of parliament today. The developers have kept social orientation. This is the budget line, which has been a priority for many years. 
Belarusian goods to be exported to remote regions Russia
Belarusian goods to be exported to remote regions Russia A special distribution center, created in Novosibirsk, will promote Belarusian goods in remote regions of Russia. There is also a logistics warehouse there, from which goods will be distributed to four major regions.  In addition, the center assumes responsibility for verifying partners, the legal side of cooperation and mutual risks. They will be carried out mainly in local currencies.
Vladimir Semashko, Belarus' Vice Premier
Belarus may get cheaper Russian gas from January 1, 2016 On December 17, it became known that there is every reason for a significant reduction in the price of Russian gas for Belarus from January 1. Belarus will agree on a specific value and prepare the necessary documents until early next week, said the Belarusian government.
Russia's Yaroslavl region to expand cooperation with Belarus
Russia's Yaroslavl region to expand cooperation with Belarus The Yaroslavl region of Russia is planning to expand cooperation with Belarus. The main areas are pharmaceuticals, road construction and agriculture. They were determined today, December 17, at a meeting with a delegation from that Russian region.  Over the last year, the trade turnover between the sides has dropped and the task today is to restore performance. One of the new projects could be the production of medicines.
Belarusian MPs to consider 2016 budget December 17
Belarusian MPs to consider 2016 budget December 17 The main financial document of the country will be considered today, December 17, by Belarusian MPs. The draft law on the national budget for 2016 entered the House of Representatives yesterday after a long way of discussions at the level of the President and the government.

16.12.2015

Minsk Ring Road 2
Another section of Minsk Ring Road 2 about to open The Second Minsk Ring Road is being built ahead of schedule. Road workers are preparing the next section of the motorway. This is the section of the road that will connect the Vitebsk and Grodno highways. This winter, the speed here will be limited to 70 kilometers per hour. This is due to the peculiarities of the concrete cover in the first year after the commissioning.

15.12.2015

Nikolai Snopkov, Deputy Head of the Presidential Administration of the Republic of Belarus
Belarus takes part in Shanghai Cooperation Organization meeting for first time in observer capacity Belarus took part in the Council of Heads of Government of the Shanghai Cooperation Organization as an observer for the first time. The council meets annually. This year it was chaired by Chinese Premier Li Keqiang. The Belarusian delegation at the summit was headed by Deputy Head of Presidential Administration, chairman of the Belarusian-Chinese intergovernmental committee on cooperation Nikolai Snopkov. 

14.12.2015

Belarus, USA to jointly develop laser technologies
Belarus, USA to jointly develop laser technologies Belarus and the United States will be engaged in the joint development of laser technologies. This will be a logical continuation of the more than 20 joint projects of the National Academy of Sciences and American developers. Among the potentially interesting areas are laser medicine, pharmaceuticals and material science. The current visit - the third inside the last 12 months - underlines the interest of the parties in cooperation.

13.12.2015

Economic growth without social shocks: Belarus President about 2016 budget
Economic growth without social shocks: Belarus President about 2016 budget The Belarusian President, Alexander Lukashenko, held on Monday a major meeting to discuss the 2016 budget and future macroeconomic policy of Belarus. External factors do not allow building optimistic forecasts. But Belarus is not going to go with the flow. There are still reserves. Belarus needs to mobilize all forces and resources. This is perhaps the main demand of the head of state.
Results of Alexander Lukashenko's visit to Vietnam
Results of Alexander Lukashenko's visit to Vietnam The foreign policy of Belarus is not as ambitious as that of Russia or the United States, for example.  But one of the main objectives of Belarus is to integrate into the world economy and search for new trading partners. The previous working week of President Lukashenko was devoted exactly to this.  He visited Vietnam and Turkmenistan, both being important economic partners of Belarus in Asia. 
Pavel Latushko, Belarusian Ambassador to France, Spain and Portugal
Belarusian ambassador about ongoing Belarus-France cooperation projects In connection with the opening of the Honorary Consulate of Belarus in Lyon Ambassador Extraordinary and Plenipotentiary of Belarus to France, Pavel Latushko, agreed to answer our questions, which concern not only the opening of the consulate. First of all, we will be talking about economy, because it is now at the head of everything.

10.12.2015

Belarusian-Chinese Midea Horizont to branch out into new products in 2016
Belarusian-Chinese Midea Horizont to branch out into new products in 2016 This Belarusian-Chinese manufacturer of import-substitution household appliances exports about 80% of its output. It makes up a million of items and billions of income a year. The major part is exported to the CIS countries. In 2016, the Belarusian-Chinese joint venture is going to produce water heaters, water coolers and cooking tops following microwave ovens. It will help create new jobs.
Konstantin Artyushin, trade representative of the Russian Federation in the Republic of Belarus
Russia wants tighter cooperation with Belarus' industrial enterprises Russia is interested in cooperation with Belarusian industrial enterprises. This involves implementation of extended production chain projects. Many enterprises, mainly in mechanical engineering, are already using this scheme. Experts believe that such an approach permits to promote more efficiently joint production on the markets of third countries. The goods turnover between Belarus and Russia has decreased but the volume of the supplies remained the same.
Belarus President meets Turkmen counterpart
Belarus President meets Turkmen counterpart Belarus and Turkmenistan are committed to increase the volume of trade, This was confirmed by the two Presidents Alexander Lukashenko and Gurbanguly Berdimuhamedov at a meeting in the one-on-one format. In recent years, the bilateral trade has decreased slightly. It was noted by both leaders. The Belarusian head of state noted that Belarus is ready to work with Turkmenistan on a wide range of areas - from the military-industrial complex to staff training.

09.12.2015

Vietnam is important partner in South East Asia, Belarus President says
Vietnam is important partner in South East Asia, Belarus President says Belarus considers Vietnam one of the most important partners in Southeast Asia, said on December 9 President Alexander Lukashenko at the talks with his Vietnamese counterpart Truong Tan Sang. Like Vietnam, Belarus is conducting socially oriented policy, which aims at improving the quality of life of people. The positions of the two countries are absolutely the same in most of the international agenda.

08.12.2015

Business forum in Vietnam: New impetus for Belarus' economic growth President Alexander Lukashenko's is on a state visit to Vietnam. Less than an hour ago, a plane of the Belarusian head of state landed at the international airport in Hanoi. During the visit, the Belarusian leader will hold a series of meetings. He will hold talks with the Vietnamese President, the head of the Communist Party and the Vietnamese Prime Minister. On December 8 Hanoi hosted a business forum where during one day the parties entered into contracts worth about $25 million.
Estonia interested in Belarusian baby food
Estonia interested in Belarusian baby food Estonia is interested in long-term cooperation with Belarus. Among the priority areas are the agricultural sector and mechanical engineering. A parliamentary delegation from that Baltic republic paid particular attention to Belarusian products.

07.12.2015

Belarus set for hard budget constraints in 2016
Belarus set for hard budget constraints in 2016 To mobilize all resources to boost the economy. The prospects of socio-economic development for 2016 were discussed at a meeting hosted by the head of state. Alexander Lukashenko noted that not all measures to ensure the economic stability are being realized. Belarus is going to mobilize all available forces and resources. It will create a good environment for investment to comply with all social guarantees and to develop the industry.
BelGee staff about Belarusian-Chinese automobile project
BelGee staff about Belarusian-Chinese automobile project The Belarus President last week spoke about his dream: he would like Belarus to produce not only produces trucks, tractors and buses but also the people's passenger car. Such as Volkswagen in Germany. In the case of Belarus it is BelGee.

06.12.2015

Are IMF's loan requirements to Belarus sensible?
Are IMF's loan requirements to Belarus sensible? President Lukashenko constantly orders to look for new markets in new regions of the world. Not only for milk products. Belarus does have some potential here. This is confirmed by the conclusions of experts of all kinds and ratings. At times, these ratings due to some tasks. The Belarus President this week held a meeting in Minsk to discuss the possible IMF loan.
Belarus President demands to deal with problems at Kamvol company
Belarus President demands to deal with problems at Kamvol company The Belarus President demands to restore order in the company Kamvol. By mid-2016 it should reach break-even operation. Today, the largest textile industry is completing modernization. It started three years ago. But now additional funds are needed. The possibility of such financing and the prospects for the company were discussed at the December 4 meeting hosted by the head of state. It was decided to support Kamvol. Money, however, will be allocated under tough conditions.
Belarus' dairy company Babushkina Krynka wins People's Brand Award
Belarus' dairy company Babushkina Krynka wins People's Brand Award Belarus announced its People's Brands. The winners reflect the choice many Belarusians. This is the true people's choice: anyone could give their vote to a particular product or manufacturer. Consumer recognition award People's Brand it's like an Oscar for manufacturers. Among the winners is the famous Mogilev enterprise Grandma's Jug, known not only in the Belarusian market.

03.12.2015

Belarus' Premier at Minsk's Kamvol company December 3
Minsk's Kamvol company to get more financing for modernization The enterprise Kamvol requires additional money to complete the upgrade. The development of the largest CIS producer of textile products was discussed during the visit of the Belarusian prime minister to that company. The Belarus President earlier instructed to update equipment at the enterprise, which should make the products competitive and also save jobs. Money to address the company's problems were allocated earlier but the investment project is still incomplete. There are also problems in product sales.
Taras Nadolny, first deputy chairman of the National Bank of the Republic of Belarus
Belarus-IMF loan talks may complete in Q1 2016 Talks between Belarus and the IMF about a loan can be completed in the first quarter of 2016, said first deputy chairman of the National Bank during the regular meeting of the House of Representatives. The IMF mission worked in Minsk in November. IMF experts evaluated the possibilities of providing loans to Belarus if it reforms the national economy. According to the Belarus National Bank, today the country is in the middle of a successful dialogue with the Fund.
Eurasian Economic Congress discusses Eurasian integration on December 1
Eurasian Economic Congress discusses Eurasian integration on December 1 The prospects of Eurasian integration today, December 1, in Moscow were discussed by participants of the Eurasian Economic Congress. This forum has become a platform for direct dialogue between the business community and government bought the participating countries.  Among the key issues is the creation of a common market of drugs, cooperation with the European Union, the Arab countries, China and India, as well as the development of the Customs Code of the Eurasian Economic Union.
Belarusian tractors to be assembled in Brazil
Belarusian tractors to be assembled in Brazil Belarusian tractors will be assembled in Brazil. The MTZ plant is considering the issue of creation of assembly production in the country. The project will allow entering the Latin American market. On December 2, a shipment of goods to Cuba was completed. The amount of the contract is about 13 million euros. In addition to tractors the factory will supply for the guarantee maintenance of machinery some spare parts worth over 5 million euros.

02.12.2015

Belarus, India outline key cooperation areas
Belarus, India outline key cooperation areas Pharmaceuticals, military-technical cooperation, engineering and science. Belarus has outlined the basic directions of cooperation with India. 170 million dollars will be earmarked for these priority areas.  This money is part of a soft loan India gave to Belarus. The development of the bilateral cooperation on December 2 was discussed in the upper chamber of the Belarusian Parliament at a meeting with the Ambassador of India to Belarus.
Alexander Drozdenko, Governor of Russia’s Leningrad Oblast
Belarus' machinery prices competitive, Leningrad Oblast governor says Alexander Drozdenko, the Governor of Russia’s Leningrad Oblast, paid a visit to Minsk, Belarus, last week. During the meeting, Mr Drozdenko and President Alexander Lukashenko tried to find new spheres for collaboration. Leningrad Oblast is particularly interested in Belarusian, machinery in seed industry and selective breeding. You are going to increase goods turnover between Belarus and Leningrad Oblast. How can we do that?
United bank identification system to appear in Belarus
Unified bank identification system to appear in Belarus A unified bank identification system will be created in Belarus. It is stipulated by the President’s decree, which is designed to simplify the work of banks with clients. Therefore, once visiting a bank, a client can use remotely services of not only this specific bank, but also services of any other financial institution in Belarus. This interbank identification system in Belarus will start operating as from 1 October 2016. 

01.12.2015

Belarus not against IMF's reform proposals, questions timing
Belarus not against IMF's reform proposals, mulling over timing Balanced approach and respect for the national interests. This is the position voiced today, December 1, by the Belarus President at a meeting to discuss the expanded program with the IMF. Belarus is in talks with the Fund to attract $3 billion for 10 years. But the IMF has some requirements Belarus needs to comply with.  
UN World Climate Conference: Belarus to be able to sell greenhouse gas quotas
UN World Climate Conference: Belarus to be able to sell greenhouse gas quotas The Eiffel Tower has turned green. It changed its usual backlight in honor of the opening of the UN World Climate Conference. The main purpose of the forum is to agree on measures that would allow keeping the increase in global temperature within 2 degrees Celsius. If this is not done, then by the end of the 21st century the average temperature on Earth will increase by 5 degrees, which will lead to an increase in global sea level by 100cm and may result in a disaster for mankind.
Belarus wants IMF loan, calls on respect for national interests
Belarus wants IMF loan, calls on respect for national interests Belarus is interested in the loan of the International Monetary Fund in accordance with national interests, said on December 1 President Alexander Lukashenko at the meeting on the progress of negotiations on the program with the IMF Extended Fund Facility. Belarus would like to attracting a loan of $3 billion for 10 years. The IMF demands that Belarus carries out some reforms in its economy.

30.11.2015

Belarusian delegation visits construction site of Garlyk mining and processing plant in Turkmenistan
Belarusian delegation visits construction site of Garlyk mining and processing plant in Turkmenistan In Turkmenistan, two Belarusian projects are being implemented: the first one is the construction of a service center, which is designed to serve Belarusian tractors. The other one is a major foreign project of Belarus – the Garlyk mining and processing plant. By 2017, the plant will have reached the designed capacity of fertilizers’ production.
Belarus may introduce domestic developments in BelGee car production
Belarus may introduce domestic developments in BelGee car production Belarusian passenger cars do have the future. Together with professionals from China, Belarus is already assembling cars of different classes near the town of Borisov. Belarus, however, plans to expand the production and introduce more domestic developments. The task was set November 30 by the Belarus President. Currently, 70 kilometers from Minsk a plant is being built on which at first 60,000 and then 120,000 cars a year will be produced. The majority of them will be exported.
Belarus may help develop special economic zone in Astrakhan region
Belarus may help develop special economic zone in Astrakhan region Belarus may take part in the development of a special economic zone in the Astrakhan region. The delegation of that Russian region on November 30 discussed in Minsk the prospects of cooperation with their Belarusian colleagues. Among the priority areas of mutual interest are the machine tool industry, textile industry and agriculture.
Belarus to assemble cars using Chinese technologies
Belarus to assemble cars using Chinese technologies To create a car based on Chinese technologies but with the use of Belarusian experience - such was the task set today, 30 November, by Belarusian head of state Alexander Lukashenko during a meeting on assembly of passenger cars. Currently Belarusian-Chinese cars are being assembled near the Belarusian town of Borisov using SKD.  BelGee cars are in demand at present. The Belarus President raised the issue of the sales of the cars produced.

26.11.2015

Sergei Sidorsky, Member of the Board (Minister) for industry and agro-industrial complex of the Eurasian Economic Commission
EEU Business Council Presidium holds first meeting in Minsk The Eurasian Economic Union (EEU) needs cooperative chains for the production of goods with high added value. Today, November 26, Minsk hosted an EEU meeting to discuss how to improve the efficiency of the new integration association. 
Dmitry Mironchik, Belarus' Foreign Ministry Spokesman
Ukraine says Belarus discriminates its goods by sanitary checks Belarus has no reason for cancelling sanitary inspection of foreign products and this does not discriminate Ukrainian goods, stated today the Ministry of Foreign Affairs of Belarus.
Trade and logistics center in Chinese-Belarusian Park by 2016
Trade and logistics center in Chinese-Belarusian Park by 2016 A commerce and logistics center should appear in the Chinese-Belarusian Park Great Stone until the end of 2016. Now project documentation is being prepared. Works are already underway on the territory of Smolevichi district. 80% of engineering infrastructure has already been built. In 2016 surface facilities will be constructed. This is administrative, industrial real estate, and real estate of the first residents.

25.11.2015

Mikhail Myasnikovich, Chairman of the Council of the Republic of the National Assembly of the Republic of Belarus
250 Belarusian MAZ trucks may be exported to Turkmenistan As many as 250 Belarusian MAZ trucks may be exported to Turkmenistan. Today, November 25, the Belarusian delegation arrived in Ashgabat to discuss the proposal to enter the market of Central Asia.   Just a few years of cooperation allowed Belarus to ship about 5,000 tractors and 10,000 trucks. Traffic, construction and agricultural machinery, the implementation of several major projects. For Belarus Turkmenistan is an important partner in Central Asia. Not only economic but also political.
22-year-old girl running confectionary in Minsk
22-year-old girl running confectionary in Minsk The Global Entrepreneurship Week was held all over the world. In this connection, today we are getting acquainted with a business-woman who created her own confectionary at the age of 22. Sometimes she had to deprive herself of life’s pleasures but her dream has come true and now she can afford a lot of things. Despite a flexible schedule her day begins long before dawn. While everyone is sleeping, Anastasiya is preparing a breakfast.
Mikhail Myasnikovich visits Garlyk mining and processing plant in Turkmenistan
Mikhail Myasnikovich visits Garlyk mining and processing plant in Turkmenistan The construction of the Garlyk mining and processing plant in Turkmenistan will be completed in March 2017. A Belarusian delegation under the leadership of the Chairman of the Council of the Republic, Mikhail Myasnikovich, arrived in Ashgabat for talks.  The states signed a turnkey contract for the construction of the plant by the Belarusian side 5 years ago. It costs about a billion dollars. At this stage, installation works are underway. Drilling continues too. The depth is already about 300 meters.
Belarus, Germany hold energy forum
Belarus, Germany hold energy forum Belarus offers Germany the implementation of joint energy projects in the Chinese-Belarusian Industrial Park Great Stone. Belarusian scientists and experts can share their achievements in the field of bio, hydro and wind power, the use of solar energy and the introduction of heat pumps. In turn, German specialists are ready to cooperate with our country in addressing climate change.

24.11.2015

Mikhail Myatlikov, head of Belarusian Chamber of Commerce and Industry
Belarus' new and traditional trading partners The development and expansion of Belarusian export was discussed talked 23 November at the Ministry of Foreign Affairs of Belarus. The meeting brought together the leading providers of domestic products and services. The participants focused on the preparation of a national export development program for the next five years. It will take into account the situation on foreign markets.   
Belarus, Russia's Novosibirsk region to develop bilateral relations through industrial cooperation
Belarus, Russia's Novosibirsk region to develop bilateral relations through industrial cooperation Belarus and Russia Novosibirsk region will develop bilateral relations through industrial cooperation. The matter was discussed on November 24 in Minsk at a meeting of the Business Cooperation Council between the partners. The sides plan to improve trade thanks to integration projects in the field of science, tourism, and agriculture.
Export diversification is paying off, Belarus Premier says
Export diversification is paying off, Belarus Premier says Since early 2015, Belarusian export has grown in several positions. However, there are still enough problematic issues in foreign trade. The Council of Ministers today, November 24, discussed how to achieve and maintain positive performance in exports to Belarus' key export destinations. During 2015 the products under the brand Made in Belarus have been exported to Asia, Africa, Central and North America. As noted by the Council of Ministers, work to increase exports should be more active. 

23.11.2015

Valery Tsepkalo, head of Belarus Hi-Tech Park
Anyone can now launch startup in Minsk's High-Tech Park The new path in the IT sphere. The Hi-Tech Park now offers anyone an opportunity to create their own company. This is the main principle of the business incubator. Experts from the field of programming and management help novice businessmen realize their projects. Moreover, these services are free of charge. This synthesis is called an eco-system as the future of Belarusian programming.
Belarus offers Leningrad region agricultural machinery, construction equipment
Belarus offers Leningrad region agricultural machinery, construction equipment Belarus President Alexander Lukashenko offered Leningrad Region of Russia to consider new directions for cooperation meeting with the governor of that region Alexander Drozdenko. These days, the delegation of the Leningrad region is visiting Minsk. Among about 80 Russian regions, it is one of the traditional key trade and economic partners of Belarus. The three-year program of cooperation has allowed increasing the turnover.
Alexander Lukashenko offers Leningrad Region to consider new directions for cooperation
Alexander Lukashenko offers Leningrad Region to consider new directions for cooperation Belarus President Alexander Lukashenko offered Leningrad Region of Russia to consider new directions for cooperation meeting with the governor of that region Alexander Drozdenko. These days, the delegation of the Leningrad region is in Minsk on a visit. Among about 80 Russian regions, it is one of the traditional key trade and economic partners of Belarus. The three-year program of cooperation has allowed increasing the turnover.

20.11.2015

Serbian president Tomislav Nikolic at Minsk Tractor Works
Serbian President Tomislav Nikolic visits Minsk Tractor Works On November 20, the President of Serbia visited Minsk Tractor Works (MTZ trademark). The distinguished guest was shown a workshop for assembling tractors and an equipment exhibition. Tomislav Nikolic asked about the quality and capacity of the engines. For years, Belarusian agricultural machinery has been supplied to Serbia. A record was set in 2011, when Serbia received more than a thousand units. One-third of the tractor fleet of Serbia are Belarusian vehicles.
Virtual banks in Belarus by 2018 Virtual banks will appear in Belarus by 2018, so that citizens will be able to perform any operation remotely using a mobile phone or a computer. A single identification system will be established due to the development of the Belarusian IT companies and digital banking technologies. As a result, a consumer will have the opportunity to not only control online his banking history, but also obtain the necessary information or a specialist advice at any time. MORE: Belarus' banking sector
Belarus, Georgia interested in setting up joint industrial enterprises
Belarus, Georgia interested in setting up joint industrial enterprises Belarus and Georgia are interested in setting up joint enterprises. A governmental delegation of that country, along with business leaders, is visiting Minsk these days. The sides are discussing cooperation prospects in the field of technologies, elevator industry and joint work in the petrochemical industry. In turn, Georgia is planning to supply to Belarus tobacco and citrus fruits. Belarus-Georgia trade turnover is set to increase 2.5 times and reach $200 million. Cooperation in the field of tourism is of great interest, too.

19.11.2015

Sister cities Brest and Subotica intend to develop trade and economic relations
Sister cities Brest and Subotica intend to develop trade and economic relations Want an example of Belarusian-Serbian cooperation at the regional level? Here it is: sister cities Brest and Serbian Subotica have developed a preliminary roadmap that will allow both parties to start serious projects.  At this point, trade between Brest and Serbia amounts to about $3 million.

18.11.2015

Belarus' 2016 budget to maintain socially oriented nature
Belarus' 2016 budget to maintain socially oriented nature The national budget for 2016 will maintain social nature. Today, November 18, Belarus' MPs began to discuss drafts of the budget law. The underlying factors in the formation of the budget are the timely repayment of external loans, the reduction of inflation and output growth.  External factors influenced the content of the main financial document of Belarus to a great extent. First of all, we are talking about oil prices.
Belarusian-Chinese business forum opens in Minsk
Belarus ready to cooperate with China's autonomous regions Belarus is ready to cooperate closer with China's autonomous regions. Minsk is hosting a Belarusian-Chinese business forum on November 18. It brought together more than 250 representatives of business circles of both countries. The trade and economic dialogue was the beginning of a large-scale exhibition of products by Chinese manufacturers. Companies from China are acquainting Belarusians with their capabilities and achievements in the field of tourism, education, construction, industry, as well as investment and finance. 
Andrei Kobyakov, Belarus' Premier
Belarus wants to restore economic growth The Council of Ministers wants to restore the Belarusian economy's growth as soon as possible. Ensuring macroeconomic stability is the main goal of the government and the National Bank.  The government, at its November 17 meeting, also touched upon the development of Belarusian pharmaceutical industry.  By the end of 2015, Belarusian drugs should account for 50% of all medicines in monetary terms.  The pharmaceutical industry also faces significant goals regarding innovation, import substitution and production volumes increase.
Redenomination in Belarus: history and current situation
Redenomination in Belarus: history and current situation The official currency of the Republic of Belarus will be redenominated on July 1, 2016. Today’s 10,000 Belarusian roubles will be equal to 1 rouble. The National Bank of Belarus presented the new money last week. Valery Nikolaenko became a numismatist when he was a boy. His collection now comprises more than 2,000 coins. Each coin has some fascinating facts to tell about. Valery Nikolayenko, collector:Banknotes and coins are both money and country’s symbols as they tell about history, culture, nature and sights.
Belarus has 'no allergy' to IMF reform proposals
Belarus has 'no allergy' to IMF reform proposals Belarus has no intention of breaking the scheme of the social state, said President Alexander Lukashenko at the 17 November meeting with the head of the IMF mission to Belarus Peter Dohlman. All other proposals of the IMF, as noted by the head of state, are absolutely realizable. IMF experts have been working in Belarus for over a week. They are holding talks with the government and the Belarus National Bank.

16.11.2015

Minsk hosting 5th International Entrepreneurship Forum
Minsk hosting 5th International Entrepreneurship Forum Minsk is holding the fifth International Entrepreneurship Forum as part of the Global Entrepreneurship Week (GEW). From 16 to 22 of November, international experts, entrepreneurs and representatives of the Council of Ministers will discuss a venture capital investments market, financial literacy, start-ups and other topics. Attending the forum on its first day were some top officials, including UK ambassador to Belarus Bruce Bucknell and Chairman of the Development Bank of Belarus Sergei Rumas.

15.11.2015

Belarusian trucks, farm machinery to be assembled in Turkey
Belarusian trucks, farm machinery to be assembled in Turkey A shop to assemble Belarusian trucks and farm machinery will appear in Turkey. Belarus and Turkey reached the relevant agreement during an investment forum in Istanbul. On November 13 the event was completed by bilateral meetings of the Belarusian delegation with Turkish businessmen. The parties entered into new contracts and agreements on mutual investment.
Additional privileges for investors in Belarus
Additional privileges for investors in Belarus In Belarus, investors will now be provided with additional privileges and preferences. This is stipulated in decree number 8, issued November 12 by the Belarus President. The document provides for the procedure of competitive selection if there are two or more investors applying for an investment project on the same plot of land. This will ensure the best and most efficient use of land resources.

08.11.2015

UN: Belarus among leading creators of public-private partnership system
UN: Belarus among leading creators of public-private partnership system Belarus is a leader in the creation of the public-private partnership system. This opinion was expressed by the Executive Secretary of the Economic Commission for Europe of the United Nations during an international conference in Minsk. Taking part in it were representatives of public, commercial and international organizations from 20 countries.  The meeting focused on the theme of the further development of economic cooperation in the interests of peace.

06.11.2015

Belarus-World Bank: current and future joint projects
Belarus-World Bank: current and future joint projects Belarus and the World Bank (WB) have discussed new areas of cooperation. Belarus has been a member of the WB for more than 20 years. In the last two years the credit supply for Belarus has increased considerably. Road building, water supply, education and other spheres are among common interests. For about four years, a massive reconstruction of Brest city sewage treatment plants has been implemented. In 2010, the International Bank for Reconstruction and Development started financing the construction of sewage treatment plants for phosphorus and nitrogen elimination.

05.11.2015

Alexander Lukashenko meets Zhong Shan, China’s Deputy Prime Minister of Commerce
Belarus President meets China’s Deputy Prime Minister of Commerce Belarus and China will implement all the agreements on time, said Alexander Lukashenko during a meeting with Zhong Shan, deputy prime minister of commerce and a special international trade envoy of China. The Chinese diplomat will represent China at the Belarusian President’s inauguration ceremony. The two countries are connected by strategic partnership and its enhancement is on the agenda today. Cordial relations between the leaders of the countries favour the promotion of state interests.

04.11.2015

Belarus to redenominate BYR by 10,000 times July 1, 2016
Belarus to redenominate BYR by 10,000 times July 1, 2016 Belarus will redenominate the Belarusian ruble on July 1, 2016. The corresponding decree was signed by the President. The old sample banknotes will be replaced by new ones by a ratio of 10 thousand to 1 ruble, i.e. 4 zeros will disappear from the banknotes and kopecks are going to appear in circulation. The present-day 100 rubles will be equal to one kopeck. Both new and old notes will be in circulation during the transition period until December 31, 2016.
Poland, Belarus for tighter agricultural cooperation
Poland, Belarus for tighter agricultural cooperation The chargé d’affaires ad interim of Poland in Belarus, Michal Chabros, has announced that Poland and Belarus are interested in intensifying their cooperation in agricultural and food sectors.

03.11.2015

Sakhalin’s Dairy Industry to apply Belarusian technologies
Sakhalin’s Dairy Industry to apply Belarusian technologies The dairy industry of Sakhalin Island will be developing with the help of Belarusian technologies. Leonid Zayats, Belarusian Minister of Agriculture and Food, made the statement during the visit of a Belarusian delegation to Sakhalin, Russia. Belarusian products are in high demand in the Russian Federation.
Sergei Rumas, head of Belarus' Development Bank
Belarus’ Development Bank expects better performance of woodworking by H1 2016 The situation in the woodworking sphere has been widely discussed during recent years. Huge sums of money have been invested into the sector but the question about its efficiency remains open.
World Bank: Price surge and inflation not expected in Belarus
World Bank: Price surge and inflation not expected in Belarus A price surge and inflation are not expected in Belarus. The World Bank approves the steps of the country on implementing structural reforms, reads a new WB economic survey as of November 2. A reasonable macroeconomic policy and some reforms will give impetus to the economic development. The WB hailed the market mechanism of forming the exchange rate of the Belarusian ruble, introduced by the National Bank back in January 2015.

02.11.2015

Alexander Lukashenko: Today few think taxes mean state well-being
Alexander Lukashenko: Today few think taxes mean state well-being Today, on November 2, at the meeting devoted to the improvement of taxation and land rent collection, the President of Belarus, Alexander Lukashenko, has set a task to keep the fiscal system as stable as possible.

01.11.2015

Ecuador: Center of the Earth and reliable partner of Belarus
Ecuador: Center of the Earth and reliable partner of Belarus Latin America is a big and promising market for the sale of Belarusian goods. The Presidents of Belarus and Ecuador have exchanged mutual visits in recent years. A few months ago in an interview with our program, Rafael Correa said that Ecuador is waiting for Alexander Lukashenko's visit to promote both political and economic cooperation.  And quite recently, during the UN General Assembly, the two leaders have met in New York and
Belarus, USA plan to set up beef cattle joint ventures
Belarus, USA plan to set up beef cattle joint ventures Belarus and the United States plan to set up joint ventures to grow beef cattle, said 31 October Belarus' Minister of Agriculture during a meeting with a delegation of American scientists and businessmen. The products produced at the plant will be exported to the Middle East and Asia. In addition, by March 2016, it is planned to purchase about 10,000 highly productive cattle. The animals will be staying on natural lands in the Vitebsk and Mogilev regions. The sides are studying the issues of the delivery of Belarusian agricultural products to the United States. 

30.10.2015

Mikhail Rusyi: Conditions of entry into WTO are more important than entry itself
Conditions of entry into WTO are more important than entry itself, Belarus agriculture minister says October 30, Mikhail Rusyi, the deputy prime-minister of Belarus, stated during a joint sitting of the Council of the Republic and the House of Representatives that the conditions of entry into the WTO are more important than the entry itself. The Belarus government says they have been working on the entry into the World Trade Organization for a long time taking into consideration many aspects. One of the factors that shouldn’t be omitted is the entry conditions for the countries that together with Belarus are members of the Eurasian Economic Union (EEU).

29.10.2015

Belarus government: new measures to stimulate business development in regions
Belarus government: new measures to stimulate business development in regions The Belarusian government has proposed new measures to stimulate business development in regions outside the capital. Proposed changes were discussed during the meeting with the head of the state. Adopted three years ago, the presidential decree defined benefits and preferences for those wishing to locate manufacture in rural areas. During that time more than 35,000 organizations and individual entrepreneurs were registered. The growth of business initiative is evident in all the regions.

28.10.2015

Four universities training specialists for Belarusian NPP
Four universities training specialists for Belarusian NPP Belarus annually allocates about BYR4 billion for the purchase of equipment for the training of Belarusian nuclear specialists. Material and technical, educational and laboratory facilities for the nuclear industry are being created. The country is also developing methodological support for laboratory work.  NPP specialists are being trained in four Belarusian universities on 6 specialties. More than 300 have already graduated. Training is conducted by Belarusian and foreign lecturers. Students can also undergo practical training at existing nuclear power plants.
Belarus up to 44th place in Doing Business rating
Belarus up to 44th place in Doing Business rating Belarus took 44th place in the new doing business ranking 2016) among 189 countries, according to a study released on October 27 by World Bank Group. In 2015, Belarus was ranked 57th.

26.10.2015

Vietnam interested in Belarus' environmental technologies
Vietnam interested in Belarus' environmental technologies Belarusian-Vietnamese drones over the jungle and new projects in the space sector. October 26 the scientific elite of the two countries discussed the joint development and future directions at the National Academy of Sciences. Researchers from Belarus and Vietnam joined their minds two years ago when joint laboratories appeared. There, scientists are workng on diagnostic equipment, projects in the space sector, and laser physics. Vietnam is also interested in Belarusian scientists' technologies for environmental protection.
Czech MPs arrive in Minsk
Czech MPs arrive in Minsk Czech capital is more willingly coming to Belarus. The growth of economic interest in Belarus comes amid intensifying political dialogue between the states. The next step is the strengthening of parliamentary cooperation. On October 26 the House of Representatives of Belarus received a delegation of Czech MPs. Most of them are part of the inter-parliamentary group "Czech Republic-Belarus".

22.10.2015

Venezuela factory to assemble Belarusian machinery
Venezuela factory to assemble Belarusian machinery A plant that will produce Belarusian equipment has opened in Venezuela. Taking part in the opening ceremony was President Nicolas Maduro. He praised the potential of the new enterprise. The assembly plant to produce road construction machinery was built in Venezuela with the participation of Belarusian specialists. The enterprise will assemble vibratory rollers, loaders, generator sets and pumps.
Day of Belarusian Economy in Germany: Berlin hosting large-scale business forum
Day of Belarusian Economy in Germany: Berlin hosting large-scale business forum Day of the Belarusian economy in Germany. Berlin is hosting a large-scale business forum with the participation of officials and senior managers of the two countries October 22.  Attention to Belarus is high on the part of the German partners, whose delegation were three times larger than the Belarusian one. For Germany Belarus is a kind of gateway to the multi-million dollar market of the Eurasian Economic Union.
Belarus government proposes measures to improve health woodworking enterprises
Development Bank to manage Belarusian woodworking enterprises' investment assets The development of basic organizations of woodworking and modernization of the industry were  discussed at a meeting hosted by the Belarus President on October 22. Taking part in the meeting were representatives of the Government, the Presidential Administration and heads of ministries and banks.
World Bank to take part in financing reform of Belarus' public finances
World Bank to take part in financing reform of Belarus' public finances In the near future, Belarus plans to attract financing of the World Bank to reform the public finances sector, Head of International Technical Assistance Department of the Economy Ministry Ivan Belchik said at a briefing in Minsk on October 22. Asked whether there are any plans to seek international technical assistance for structural reforms in the country, the Ministry of Economy representative said that such projects are already being implemented.
Dmitry Mironchik, Belarus' Foreign Ministry Spokesman
Day of Belarusian economy in Berlin: Business forum due October 22 There will be held October 22 a large-scale business forum in the German capital Berlin as part of Day of Belarus Economy. It will gather Belarusian and German officials, executives and businessmen. They will discuss the prospects for business cooperation.

21.10.2015

Belarusian Economy Day to be held in Berlin on October 22
Belarusian Economy Day to be held in Berlin on October 22 Belarusian-German cooperation in the fields of industry, investment, energy, logistics and professional training was discussed on October 21 in Berlin. A special working group also considered bilateral cooperation in the context of the Eurasian Economic Union. Tomorrow, October 22, Berlin will host the Day of Belarusian Economy. More than 100 business representatives of the two countries will discuss cooperation in industry, energy, banking and other sectors.
Latvia hopes for closer IT cooperation with Belarus
Latvia hopes for closer IT cooperation with Belarus Latvia hopes for closer cooperation with Belarus in the sphere of IT technologies. Also, the official Riga expects active cooperation with Minsk in the framework of the ambitious trade project Silk Road. These were the topics of the October 20 Latvian-Belarusian business forum. Businessmen discussed the further development of partnerships in sectors such as machinery, chemical industry, trade in food products. They also touched upon the suspension of sanctions by the EU.

20.10.2015

Belarus President notes need to combat shadow economy
Belarus President notes need to combat shadow economy The Belarus President has set a task to the Committee of State Security to rigidly suppress the activities in the shadow economy, including to punish complicit officials. October 20 Alexander Lukashenko met with KGB Chairman Valery Vakulchik. As was reported to the President, this work has already begun. In particular, on October 19, 13 persons were arrested in Brest for organizing such activities. These are the largest suppliers of products for the agricultural sector.
Minsk enterprises' stock reserves decrease
Minsk enterprises' stock reserves decrease In September 2015, products worth more than BYR450 billion were sold from storage reserves of large industrial enterprises of Minsk. Thus stocks of washing machines fell by 43%, TVs by 17%, shoes by %16.5, tractors by 12%, trailers and semi-trailers by 10%. Main markets are Belarus, Russia, Serbia, the Czech Republic and Slovakia. More: Belarus' macroeconomic policy
How will Belarus' economy be developing in the coming five years?
How will Belarus' economy be developing in the coming five years? The standard of living in Belarus should grow. This was discussed October 20 at a meeting on topical issues of development of the country held by the President. The focus was on economic growth, labor protection of citizens, the retirement age and the state's responsibility.
How does Eurasian Economic Union protect itself from import?
How does Eurasian Economic Union protect itself from unfair competition? More than 10 measures protect the domestic markets of the Eurasian Economic Union against unfair competition from foreign companies. This was discussed today at a special seminar in Minsk.

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