Business news

Belarus’ pharmaceutical exports up by 1.8 times over five years
Sergei Kazakevich also noted that export is important for the pharmaceutical industry as the Belarusian market is not big enough for it to develop effectively and implement further plans...

Belarus’ dairy export might reach $4bn by 2030
"Over the past five years, the export of dairy products has grown by 34%, or by $600 million. In 2019, it amounted to $2.3 billion (up 15% year-on-year). Dairy products were shipped to 58 countries. It was an absolute record for us"...

Belarus intends to increase milk output to 9.2m tonnes per year by 2025
"This year, the positive trend remains in place. In January-September we produced 300,000 tonnes more year-on-year. We are set to to reach 7.5 million tonnes by the end of the year"...

Ukrainian manufacturers interested in closer cooperation with Belarus
"Belarus is Ukraine's second biggest economic partner among the CIS countries and the fifth biggest partner in the world. This is a very serious fact"...

TeMEx international industrial online expo brings together over 70 companies
"Belarus’ first virtual expo Made in Belarus #AgroFood was a valuable experience. I am sure that based on that experience we will make this expo even more fruitful and make it a useful and important platform for companies that are taking part in it. The expo will showcase a wide range of products from large vehicles to hi-tech solutions"...

Belarus to join Global Forum on Transparency and Exchange of Information for Tax Purposes
These decisions are meant to facilitate cooperation between Belarus and the Organisation for Economic Co-operation and Development that initiated the projects of the Global Forum and the Inclusive Framework...

Belarus plans to reduce gas imports
"We believe that the commissioning of the nuclear power plant and other factors will pave the way for new power generation technologies, which will allow us to minimize the use of gas and oil products. We will also promote renewable energy and facilitate its integration into the energy system"...

Belarus to increase renewable power generation capacity by 1.5 times by 2025
"Their share was 4.8% of the total installed capacity (4% in 2019). In January-August 2020, the installed capacity of renewable energy sources rose by 82.1MW. Renewable power generation went up to 3.5% of the total power generation in Belarus"...

Grain harvest in Belarus to make up 10.3m tonnes in 2020
“It will be great if we work like this every year. It is a difficult year, yet productive across all agricultural crops,” Aleksandr Lukashenko said...

Support for export of Belarusian-Russian products to third-country markets discussed in Minsk
As she opened the meeting, Chairwoman of the Economy, Budget, and Finance Commission of the Council of the Republic of the National Assembly of Belarus Tatiana Runets noted that the relevant program documents on export support and diversification are being implemented at the national levels. Belarusian and Russian manufacturers seek ways to finance the export of jointly made products, this is why Belarusian and Russian MPs cannot stay away from efforts to resolve these problems...

Belarus, Poland to give more trucking permits to each other in 2021
The agreement was reached during a videoconference session of the Belarus-Poland commission on international transportation by road. Belarusian Deputy Transport and Communications Minister Sergei Dubina and Director of the Road Transport Department of the Infrastructure Ministry of Poland Bogdan Oleksiak took part in it...

Eurasian Stabilization and Development Fund approves $500m loan to Belarus
"Restrictions associated with the pandemic have had a negative impact on the economic activity of Belarus and pose serious risks. The loan will help the government to ensure high-quality healthcare assistance, balance out the fiscal policy and ensure the sustainability of the banking sector"...

Russian investor pours over $1.5m in woodworking project in Vitebsk Oblast
The company OOO WoodenKit intends to start making furniture boards. The enterprise occupies a land plot the investor bought after a local retailer went bankrupt...

Minsk to host Prodexpo 2020 on 10-13 November
The program of the expo will include the business forum “Strategic prospects for the development of Belarus’ food industry” that will bring together representatives of government agencies and heads of leading food industry companies...

Belarus showcases its trade, economic potential in Turkish Eskisehir
Belarus offered a presentation of its trade and economic potential at the Eskisehir chamber of industry and commerce. The ambassador presented trade proposals of Belarusian economic entities interested in the supply of products to Turkey and the development of cooperation with the Turkish business...

Fission chain reaction launched at Belarus’ nuclear power plant
“In line with the BelNPP construction schedule, the fission chain reaction was successfully launched in the first energy unit; the unit was brought to minimum control power (MCP),” the press service informed. Thus, the reactor has started its service life...

Over 80 new resident companies registered in Belarus’ Hi-Tech Park
The new companies include residents with foreign capital established by representatives of Germany, Israel, Latvia, and the USA. The new companies also include six development centers of foreign corporations...

Belarus wants first stage of EAEU’s common natural gas market creation finished in 2020
“We believe that the establishment of common energy markets in the Eurasian Economic Union while ensuring non-discriminatory approaches to pricing, tariffs, access to services of natural monopolies is a task of paramount importance for creating a genuine economic union”...

Belarus in favor of increasing EDB’s role in EAEU
It is suggested that the Eurasian Development Bank and national development banks team up to provide credit support for projects that contribute to the integration...

Belarusian engine maker MMZ buys equipment in Germany to upgrade manufacturing processes
Production modernization is one of the key avenues of development for MMZ. The company became a state scientific organization in spring 2019. Using the money the central state budget appropriated in 2020 to finance scientific, R&D, and innovative activities, the company bought new modern high-technology equipment in Germany: an ACCURA 2 bridge-type measuring machine from ZEISS and an industrial CT scanner phoenix v/tome/x c450 from General Electric. The equipment is unique in Belarus...