Business news

Belarus named Russia’s fourth largest trading partner globally, first in CIS in 2017
Last year, Russia’s top three trading partners were China, Germany and the Netherlands. The trade of Russia with China amounted to $87 billion (an increase of 31.5%), $50 with Germany (up 22.8%),$39.5 billion with the Netherlands (up 22.4%)...

No oil and gas disputes between Belarus, Russia
In his words, the EAEU member states have now launched the next stage, which is the negotiations on the development of the common electricity market in 2019, and the common oil and gas market, which is to go operational in 2025...

Russian ambassador sees prospects of designing Union State tractor as viable
The ambassador explained that he means concerted efforts of the Minsk tractor and engine plants and Russian producers of similar equipment to work together on third-country markets...

Belarus, Kazakhstan discuss prospects for industrial cooperation
"Our countries have a large untapped potential in trade, economic, transport, cultural and humanitarian cooperation. We need to take measures to develop further our partner relations"...

Belarus’ gold, forex reserves at around $6.5bn
In line with the IMF Special Data Dissemination Standard (SDDS), Belarus’ gold and forex reserves went up by $2.4 billion (up 48.5%) in 2017 to reach $7,315 million...

Belarus’ economic forum held in Frankfurt am Main
The discussions were mainly focused on Belarus’ role as a link between East and West and its potential for industrial cooperation, instruments of financing and insurance in the Belarusian-German trade, new technologies in the banking sector...

Bellesbumprom’s export up 42% in 2017
Bellesbumprom’s exported products to more than 60 countries. In 2017 its exports rose more than 42% and amounted to $427 million...

Belarus’ National Bank announces main objectives, strategic initiatives for 2018
"The planning system includes setting the main objectives for the current year to enable favorable conditions for sustainable inclusive economic growth through the quantitative and qualitative development of the monetary sector, banking, and payment system"...

Belarusian Universal Commodity Exchange welcomes first broker from Kazakhstan
In turn, Rashid Ganiyev underlined that the Belarusian market is of great interest to the Kazakh business and that commodity trading gives direct access to almost 15,000 Belarusian companies accredited at the BUCE...

Belarus’ dairy industry aims at 6t in milk output per cow by 2020
"Relying on science, building on the national and world experience, the dairy industry will take another development turn and dramatically improve its productivity and cost-effectiveness"...

Belarus’ agricultural exports up 15% in 2017
"The growth in the production output of agricultural products was registered throughout the country. Belarus has taken a course on innovative development of the agrarian sector"...

Belarus expects to get sixth EFSD tranche in Q1 2018
"The seventh tranche will be issued on the evaluation of the results reached as of 1 January 2018. Therefore it will be disbursed later than the first quarter"...

Belarus, Georgia mull over alternative supply routes
In his words, the number of Belarusian goods on the Georgian market has been constantly growing. "We have increased the number of commodity items over the past year. Belarus sells its cosmetics and household chemicals to Georgia"...

Belarus to float $600m worth of eurobonds in H1 2018
As BelTA earlier reported, Belarus does not rule out a possibility to float bonds on the Russian and Asian markets in 2018...

Mogilev Oblast foreign investment inflow reaches some $1.5bn in last 5 years
“Mogilev Oblast attracted such a large volume of investments thanks to a favorable investment environment. It is not by chance that Mogilev Oblast is among the best regions in Belarus in terms of enabling favorable conditions for business”...

EU to earmark €3m for project to support Belarus’ economic policy
The project will comprise five components: strengthening public financial management system, ensuring the stability of the banking sector, improving the efficiency of enterprises, protecting vulnerable households and developing market institutions...

BelCCI to host Latvian businessmen on 8 February
During the event the Belarusian participants will have the opportunity to negotiate the development of interaction with Latvian companies in the provision of port services, economic terms of the Liepaja special economic zone, customs clearance...

Fitch upgrades six Belarusian banks to 'B'
The banks are Belarusbank, Belinvestbank, Development Bank of the Republic of Belarus, BPS-Sberbank, Bank BelVEB and Belgazprombank...

PM: The use of cryptocurrency in Belarus' internal business not on agenda
Andrei Kobyakov stated that with the adoption of Decree No. 8 "On the Development of Digital Economy” Belarus has regulated a number of issues related to the use of cryptocurrency. This path is followed, for example, by Japan, some Swiss cantons...

Belarus initiates EAEU digital transformation program
Belarus suggests developing a unified program for the EAEU digital transformation, and not at the level of common principles and approaches, but with specific measures and their implementation deadlines...