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Economy & business

24.03.2016

Eurasian Economic Union should be no worse than the EU, Alexander Lukashenko says
Eurasian Economic Union should be no worse than the EU, Alexander Lukashenko says The Eurasian Economic Union (EEU) should be no worse than the European Union, said the Belarusian President meeting with Chairman of the Board of the Eurasian Economic Commission to discuss integration processes in the framework of the EEU March 24. Tigran Sargsyan has been in the post since February. Before that, he was Ambassador Extraordinary and Plenipotentiary of Armenia to the United States and for six years was the Prime Minister of Armenia.
Development of alternative energy in Belarus: solar panels and solar power plants
Development of alternative energy in Belarus: solar panels and solar power plants The sun is an inexhaustible source of energy. If one competently uses all available natural resources, it is possible to receive considerable profit. So it is not surprising that many countries today are developing in this direction. The leader in the number of solar panels is Germany, and this despite the fact that the country has fewer than 30 statistically clear days per year. By the way, Belarus has the same number of clear days. But in this country, solar energy is only beginning to develop.
President Lukashenko: Belarus and Orel region to develop economic cooperation
President Lukashenko: Belarus and Orel region to develop economic cooperation Belarus and the Orel region of Russia intend to develop trade and economic cooperation. First of all in agriculture and industry, said March 24 Belarus President Alexander Lukashenko at a meeting with the governor of the Oryol region Vadim Potomsky.

23.03.2016

Belarus President approves maximum allowable tariffs for some utility services
Belarus President approves maximum allowable tariffs for some utility services Belarus has approved the maximum allowable tariffs for housing and communal services. The presidential decree, signed today, affects 14 positions. The financial burden for the population has significantly reduced after the recent utility services cost hikes in Belarus. 
Belarusian dump trucks and buses to be produced in Vietnam
Belarusian dump trucks and buses to be produced in Vietnam Belarusian dump trucks and buses will be produced in Vietnam. The Industry Ministers of the two countries signed an agreement on March 23 in Minsk. Two joint ventures will be based on already existing plants, where they will collect finished products from kits, which will come from Belarus. In 2016, the quota will be about 600 units.  By 2020, the localization will reach 40% and Belarusian presence in the ASEAN countries will expand.
Belarusian-Georgian business underway in Minsk March 23
Belarusian-Georgian business underway in Minsk March 23 The complementarity of the economies of Belarus and Georgia on March 23 is in the center of attention of the two countries' businesses. Minsk's National Library is hosting the Belarusian-Georgian business forum. Yesterday an agreement was reached by Belarus and Georgia to increase trade by 4 times, $200 million a year.
Belarusian-Georgian business forum to open at National Library on March 23
Belarusian-Georgian business forum to open at National Library on March 23 The development of the Belarusian-Georgian trade and economic cooperation. Today, on 23 March, a forum of business circles of the two countries will open at the National Library.  The meeting will be attended by Prime Minister of Georgia, who is now on a visit to Belarus. Businessmen will hold talks on export opportunities and import of goods, as well as discuss the creation of joint ventures.  One of the most interesting areas, according to Georgian business, is the IT sector.

22.03.2016

Tunneling shield to triple Minsk subway building productivity
Tunneling shield to triple Minsk subway building productivity Working non-stop, the mechanized tunneling shield Alesya, which is involved in the construction of the third line of the Minsk subway, has begun working around the clock.  Thanks to this circumstance, the complex will pass under the ground about 250 running meters a month, which is three times more than before.
Minsk to reduce import, support exporters
Minsk to reduce import, support exporters In Minsk is aiming at reducing import purchases, saving energy costs and supporting exporters, stated Deputy Economy Minister Alexander Yaroshenko. Experts say that export is increasing thanks to pharmaceutical and food industries as well as oil refining. Economic growth is forecast in the second half. According to the business plan, financial support will be considerable part of the functioning of the industries.
BelAZ trucks on one of CIS' largest quarries in Uzbekistan
BelAZ trucks on one of CIS' largest quarries in Uzbekistan BelAZ dump trucks have begun work on one of the largest quarries in CIS in Uzbekistan. The Belarusian machines help in gold mining, coal and other minerals.  Uzbek mining companies also use Belarusian bulldozers and front loaders, which can significantly increase the production rate of rock. Working in the quarries of Uzbekistan are now more than 1,000 BelAZ trucks and other equipment units.
IT service exports of Belarus' Hi-Tech Park up by 20% in 2015
IT exports of Belarus' Hi-Tech Park up by 20% in 2015 The export of Belarusian High-Tech Park's IT services grew by 20% last year. The figure was more than $700 million. Software developed in Belarus was exported to 61 countries around the world. Among them are some new destinations such as South Africa, Portugal, Croatia, Serbia, Uzbekistan and Kyrgyzstan.  Half of the Hi-Tech Park's exports goes to Europe and the majority to the United States.
Belarus may end preparatory process for WTO accession by end of 2016
Belarus may end preparatory process for WTO accession by end of 2016 Belarus can complete the preparatory process for accession to the World Trade Organization during 2016, international experts say. On March 22 in Minsk, representatives of the Ministry of Foreign Affairs and International Trade Centre discussed the details of further actions of Belarus in the framework of the WTO accession. Now the main focus should be on the improvement the efficiency of the public sector bodies and on the diversification of markets. A major role in this process is given to business.
Belarus, Georgia aim at $200 million trade turnover in near future Belarus and Georgia in the near future are going to reach $200 million of mutual trade turnover. This was stated at the March 22 meeting of the Belarusian head of state with the Prime Minister of Georgia in Minsk. Diplomatic relations between the two countries were established two decades ago. Nevertheless, the bilateral potential has not been fully used. Cooperation is possible in industry, agriculture, transport, public health, and tourism. 

21.03.2016

Belaruian businesman Chizh charged with tax evasion
Belaruian businesman Chizh charged with tax evasion Belarusian businessman Yuri Chizh, who has recently been detained, has been charged with tax and fee evasion on a large scale, reported on March 21 the State Security Committee of Belarus.  Currently, Yuri Chizh remains in custody in a detention center. More on Yuri Chizh's detention here.
How much do Germans pay for utility services?
What can Belarus learn from German approach to utility services? Whatever the numbers in the utility bills one should understand that they will not be that cheap anymore. Prices will be reasonable but not gratuitous. And if you live prudently, like people in the West, with a sense, it will be much easier. Germans are known trendsetters in the field of economy. Our special correspondent Yana Shipko found out how much Germans pay for utilities.
Belarus to abolish limits on storage of alcoholic beverages by individuals
Belarus to abolish limits on storage of alcoholic beverages by individuals Limits on the storage and movement of alcoholic beverages by individuals are going to be abolished. Today, this issue was discussed at a meeting hosted by the Belarus President on improving the legal regulation of the turnover of alcohol.  We are talking about domestic products marked with excise stamps. The document was drafted on behalf of the President, and its main purpose is to determine the optimal approach to the turnover of alcohol products in the country.
Belarusian Currency and Stock Exchange building
Non-professional participants granted access to foreign currency trading Non-professional participants of the foreign exchange market from March 21 will gain access to foreign currency trading on the Belarusian Currency and Stock Exchange. These are organizations and companies that do not have a special license.  Earlier, only banks could access such trading. This innovation will improve the liquidity of the exchange market and reduce the costs of foreign exchange transactions. As a result, enterprises can save.  In addition, with the new measures, the value of the foreign currencies will not be so volatile.
Modernization at Belarus' Kommunarka confectionary checked by President Lukashenko
Modernization at Belarus' Kommunarka confectionary checked by President Lukashenko Mistakes in economy can be very expensive. Although sometimes it is not so noticeable. Last week, the President checked the modernization process at Kommunarka confectionary, which was 4 years ago returned under the wing of the state. The company was modernized, staff was kept and moreover, new jobs were created. A benefits package is considered one of the best in the Belarus capital. Raiders and then a foreign shareholder tried to swallow the tastiest morsel of Belarus' pastry pie several times. And each time the factory was literally defended by the President.

20.03.2016

Belarus on Cote d'Azur: Picture of the World's special report from Cannes
Belarus on Cote d'Azur: Picture of the World's special report from Cannes Candy with champagne - a banal but traditional gift for the New Year. Belarusian candies, Kommunarka of course, and delicious and not very expensive champagne make a perfect combination. We are on the Côte d'Azur!
President Lukashenko visits Kommunarka confectionary
President Lukashenko visits Kommunarka confectionary After 90 minutes, and even has less, lights on office buildings in Minsk and other Belarusian cities will turn off for an hour. Do not be afraid - it is a global event. Last year, it looked like this (you see it now on the screen). "Earth Hour" is held in the 7,000 cities to draw attention to climate change on the planet and conserve resources.
Belarus to branch out into jeans
Belarus to branch out into jeans Belarus will start to make its own jeans. Fabric for them is almost ready. In the near future, it will be brought to an optimal state and will be ready for tailoring.  At the same time, Belarusians decided to abandon the classical composition and add to the fabric some national colors: jeans are not pure cotton, but with the addition of flax. Belarus will be assisted by Turkmenistan in the jeans production - specialists from that country will be responsible for making the fabrics of different textures.

17.03.2016

Belarus National Bank to reduce refinancing rate to 24%
Belarus National Bank to reduce refinancing rate to 24% The National Bank of Belarus will reduce the refinancing rate by one point. From April 1, it will stand at 24% per annum. This is a very indicator for commercial banks when it comes to the percentage policy, loans and deposits. Last time the refinancing rate changed on January 9, 2015. Then it was increased by 5% on the background of the late December 2014 turmoil in the financial market. According to the National Bank, the decision was based on an analysis of existing risks.
Barriers to EEU internal market to be discussed in Moscow March 17
Barriers to EEU internal market to be discussed in Moscow March 17 The Council of the Eurasian Economic Commission on March 17 will discuss progress on the identification of barriers to the internal market of the Eurasian Economic Union (EEU). The relevant meeting will be held in Russia's capital Moscow.  The program of the meeting will also deal with trade, financial policy, industry, and technical regulation. The sides will consider the formation of a single digital space.  It is expected that the relevant draft will be submitted to the consideration of the Supreme Eurasian Economic Council until December 1.
Calculation of salaries after redenomination in Belarus
Calculation of salaries after redenomination in Belarus The Ministry of Labour and Social Welfare has clarified the procedure for calculating employee salaries, allowances and other payments in connection with the redenomination in Belarus. On July 1, 2016, payments established by legal acts, including local acts, in absolute terms, are subject to reduction by 10,000 times. Thus, four zeroes will be dropped.
Thai-Belarusian business forum underway in Thailand
Thai-Belarusian business forum underway in Thailand Economic ties between Belarus and Thailand have become stronger. The first joint business forum of the two countries opened today in Bangkok. Representatives of major companies of both countries have met to establish cooperation and strengthen cooperative ties in various sectors of the economy.
Alexander Lukashenko to EBRD: Business partners appreciate Belarus' honesty
Alexander Lukashenko meets EBRD's Alain Pilloux Business partners appreciate Belarus' honesty, said March 17 Head of State Alexander Lukashenko at a meeting with Vice-President of the European Bank for Reconstruction and Development Alain Pilloux.  According to the Belarusian leader, if our country promises something, it fulfills them. This is particularly important at a time when Belarus can conduct a more open dialogue with the EU.

16.03.2016

Sergey Zolotoy, chief designer of Belarusian space system, director of RUE Geographic Information System of the National Academy of Science
Airbus interested in Belarus' innovative technologies Space height for Belarusian scientists. The European aerospace group is interested in innovative technologies of Belarus.  In order to get familiar with Belarusian aerospace engineering, the National Academy of Sciences was visited by representatives of the international company. 
Andrei Shorets, Minsk mayor
Belarus takes part in Summit of Mayors of European cities in Cannes The summit of mayors of European cities will open today, 16 March, in Cannes. Belarus' capital Minsk will also be represented there.  The meeting, which will take place as part of the largest forum on real estate investment in Europe MIPIM, will be devoted to the development of the housing sector. Yesterday, the Belarusian capital was again hailed thanks to entering the top of a prestigious international rating. In Cannes, the most attractive investment destinations were announced. 
Andrei Kobyakov on working visit in Tatarstan, set to visit KamAZ March 16
Belarus PM on working visit in Tatarstan, set to visit KamAZ March 16 Belarus intends to take part in the Russian import substitution program, said Belarus Prime Minister, who is these days on a working visit in Tatarstan.  In particular, Belarus will be discussing co-operation with the largest manufacturer of heavy trucks in Russia - the corporation KamAZ. According to Andrei Kobyakov, Belarus is ready to offer a wide range of modern automotive components, which are not inferior to foreign analogues either in price or in quality.

15.03.2016

Financial Times rating: Minsk into top most attractive investment destinations
Financial Times rating: Minsk into top most attractive investment destinations On March 15 the most attractive cities from an investment point of view were named in France. Among them is Minsk.  In the ranking dealing with the effectiveness of business expenses, Minsk climbed 7 positions to 2nd place. And for the first time, the Belarus capital is among the top 10 cities in Europe with the best strategy to attract foreign direct investment.  The rankings were published by a supplement of Financial Times.
Minsk honored in Cannes as attractive investment destination
Minsk honored in Cannes as attractive investment destination In the center of Europe and in the epicenter of economy. On March 15 in Cannes honor the most attractive from an investment point of view of the city. Among them is our Minsk. The Belarusian capital entered in the top 10 cities in Europe as a promising destination for foreign investors.  The ranking has been compiled by The Financial Times. Belarus is into top 10 in the nomination "The best strategy to attract foreign direct investment."
Belarus Prime Minister to go to Tatarstan on working visit
Belarus Prime Minister to go to Tatarstan on working visit The Prime Minister of Belarus has gone on a working visit to Tatarstan. There, Andrei Kobyakov will hold talks with the leadership of the region.  They will discuss the results and prospects of bilateral cooperation. Mr Kobyakov is going to visit a number of enterprises. In Tatarstan works a trading house representing Minsk Tractor Works (MTZ). Its products builds the basis of Belarusian export. Tatarstan is the 6th most important trading partner of Belarus among other Russian regions.

14.03.2016

Belarus President approves new tariffs amid utility price row
Belarus President approves new tariffs amid utility price row Water supply and elevator maintenance will be cheaper. The President of Belarus has approved the tariffs for basic public utilities. The President ordered an in-depth review of utility costs after the January price rises. Alexander Lukashenko demanded that the real value of the services be specified in utility bills. And utilities should be transparent and understandable to the public. The decree on the new tariff policy will be signed in the near future.
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.

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