Business news

Belarus, Russia sign food balance sheets for 2019
"The agreements preserve also the same volume in mutual supplies of dairy products. The parties also agreed to increase the supplies of certain meat products from Belarus"...

Belarus, Cuba intend to develop cooperation in forestry
These include exchange of knowledge, technologies and scientific information concerning training of management personnel and specialists of forestry and logging industries...

Belarus’ export of tourism services up 17.5% in January-July
On 27 July 2018 the visa-free stay in Belarus was expanded from 5 to 30 days. Over the time the number of visa-free tourists has gone up 42%. The biggest number of visa-free visitors comes from Germany, Poland, the UK, the United States and Italy...

Amkodor to supply $22m worth of machinery to Bangladesh, Sudan by year-end
All in all, the company is working hard to explore new markets: last year alone it launched supplies to six new countries (Egypt, Sudan, the Congo, the United Arab Emirates, Mauritania and Cuba)...

Belarus suggests assembly plants of elevators, tractors to Armenia
Setting up plants to assemble farm equipment, for example, tractors, is another promising area. Cooperation in this avenue is important as Armenia is upgrading its agricultural industry and regularly buys modern Belarusian tractors...

Belkommunmash plans to launch electric bus assembly plant in India
"It is important to deliver first vehicles and demonstrate their work. There is still a number of issues associated with the delivery; the duties are very high. We will discuss the issue taking into account the prospects for joint ventures"...

Belarus’ Hi-Tech Park reports record high growth of number of resident companies, export of services
"The Digital Economy Development Ordinance does work. We can see it in the colossal growth across the board: the number of resident companies in the Hi-Tech Park is on the rise, export figures skyrocket, and there are many new startups"...

Belarus, Russia to finalize tax maneuver compensation by 2018 year-end
Russia admits that such compensations should be awarded. The size and mechanism of compensations will be discussed additionally, the vice premier noted...

Lukashenko: No reason to set up overlapping enterprises in Russia
He noted that if there is a company like BelAZ in Belarus, then why to set up a similar enterprise to produce heavy-duty vehicles in Russia...

Russia’s quotas for Belarusian forwarders discussed in Sochi
"It is not normal that the Russian Federation has increased the number of quotas for Poland, Lithuania and Latvia three times over the last three years and has reduced them for Belarusian forwarders"...

Extending repayment period of Russian loan to finance Belarus NPP project discussed in Sochi
Alexander Lukashenko explained that the reason behind this request is Russia’s failure to comply with the deadlines for the BelNPP construction. "The commissioning of the first power-generating unit has been delayed for as long as one year so far"...

Belarus to receive sixth tranche of EFSD loan soon
"We have received five tranches. The sixth and the seventh tranches are left. I do not see any problems with providing the sixth tranche. As it was already stated, the seventh tranche can also be negotiated. Everything depends on how, first of all, Belarus will act in this regard"...

Belarus, Russia to elaborate plan of agricultural supplies within week
"I made it clear and put it quite tough at the second, extended, meeting that we should not act like this. In particular, this concerns Russia. If they are displeased with something, they pull the plug on an enterprise"...

Belarusian Amkodor to ship $0.5m worth of agricultural machines to Egypt by year end
In his words, the Egyptian market is interested in virtually all the vehicles and machines Amkodor makes. In particular, there is a strong interest in agricultural machines, road construction and maintenance machines, and civil engineering industry machines...

Nigeria interested in cooperation with Belarus in mechanical engineering
"We are interested in the sphere of mechanical engineering. We intend to continue negotiations with MTZ. A Nigerian company has already signed a memorandum of cooperation with this Belarusian company"...

Belarus’ economic potential to be presented to commercial counselors of foreign embassies
"The number of participants increases every year. Today’s meeting was attended by representatives of about 40 countries. The list of attendees also features over 130 Belarusian enterprises"...

Plans to create electric truck in Belarus
“We’ve made some headway into the development of the electric car. We intend to present it at the end of the year. Work in this area is in full swing. We are closely working with MAZ on commercial vehicles. A project to create an electric truck is being prepared”...

Belorusneft aims for record high oil, gas extraction figures in Russia
"This year we will reach extraction figures as large as 450,000 tonnes of oil equivalent. The figure represents the combined extraction of oil and natural gas. It is the highest figure on record in the history of the company"...

Belarus-Russia oil talks still in progress
Belarus and Russia keep working on reconciling their positions on supplies of oil products, Deputy Chairman of the Belarusian state petrochemical concern Belneftekhim Vladimir Sizov told reporters...

Belarus’ central bank to keep refinancing rate at 10% per annum
By keeping the refinancing rate unchanged, the central bank intends to support the monetary conditions, which will put the actual inflation close to the 5% target in 2019-2020...