Business news

BUCE to develop cooperation with Russia’s Trade Representation in Morocco
Prospective areas of cooperation include the BUCE assistance in promoting the products of Belarusian enterprises in the Moroccan market, including by organizing online and offline events for representatives of local businesses...

Belarus to tax companies from unfriendly countries, suspend double taxation avoidance agreements
From 1 April 2024 through 31 December 2026 the document will impose a 25% income tax rate on dividends and similar revenues of foreign organizations that do not operate in Belarus via a permanent representative office...

Belarus’ cargo transportation via Russian transport corridors up 1.9 times in 2023
"We are not stopping there, the growth in the first two months under the agreements signed between our transport departments is almost 25% of the past two years’ highest base,” Dmitry Krutoi said...

Union State integration projects to increase Belarus’ GDP by $8bn
Dmitry Krutoi said: “A very significant package of decisions was approved [at a session of the Supreme State Council of the Union State of Belarus and Russia] in St. Petersburg on 29 January 2024. Essentially it became a guiding landmark for our further work within the framework of Belarus-Russia integration"...

Lukashenko deems Belarus’ oil reserves underestimated
The first thing the president pointed out is how much oil was extracted in Belarus in the USSR times: about 8 million tonnes per annum or about 9 million tonnes according to some sources. This is why the head of state reasonably wondered why the oil extraction volume had dropped so significantly and what options are available for increasing it...

Companies from 23 countries are active on Belarusian commodity exchange
In January-February 2024, foreign companies concluded more than 1,500 transactions to purchase Belarusian goods for a total of $170 million. In the same period last year, the number of transactions was 155 to the total amount of $14 million...

Lukashenko urges uniform minerals development control policy
In this regard, the president cited a number of figures on regarding the use of the production capacities for certain minerals in 2018-2023 provided to by the government. The production capacities for glass and molding sands have been utilized at 39%, refractory clays - 47%, chalk, marl, clay and tripoli for cement - 53%, dolomite - 38%, facing stone - 44%...

Belarus’ commercial oil reserves 14m tonnes up over 8 years
"The application of new technologies, an increase in seismic exploration and drilling have allowed increasing oil extraction by 20,000 tonnes per annum on the average since 2017"...

Belarus, India discussing cooperation in pharmaceutical, chemical industries
Food security, cooperation in the pharmaceutical and chemical industries were discussed at the meeting of Minister of Foreign Affairs of Belarus Sergei Aleinik with Minister of Health and Family Welfare, Chemicals and Fertilizers of India Mansukh Mandaviya...

Some 1,300 agricultural estates pass re-registration in Belarus
“Their number has dropped, but this does not mean that these facilities were shut down. They just switched to another format of operation,” said Irina Voronovich...

Belarusian Chamber of Commerce and Industry unveils product promotion strategies
“The geography of contacts is very wide - we interacted with partners from 55 countries, including 31 countries of the far arc.During this period, we arranged 84 business visits to 19 countries,” Aleksandr Golovarev said...

Belarus gearing up to host INNOPROM visiting exhibition in 2025
"The scale of Belarus' participation in the international industrial exhibition INNOPROM in Yekaterinburg last year became a kind of catalyst for the decision of the Russian organizers to hold this event in our country, which will happen for the first time,” Andrei Shakhanovich noted...

Lukashenko urges to improve Atlant's performance
According to Dmitry Kharitonchik, there are almost no complaints about Atlant goods...

Lukashenko discusses BelAZ development strategy
Sergei Lesin remarked: “This will be mining equipment in the short term and hydraulic excavators in the medium term; heavy graders over 70 tonnes are a very rare product. Our drivers of growth in the future are not only mining trucks, but also related products”...

Minsk Automobile Plant, company from India sign memorandum of cooperation
"The company will promote trade, provide maintenance services, engineering and information support for the MAZ brand"...

Belarus’ MAZ discusses cooperation with Vietnam
They also discussed the supply of vehicle kits from Minsk Automobile Plant to the Asian enterprise...

Russian Railways, Belarusian Railways discuss freight, passenger transportation
Vladimir Morozov emphasized that Belarusian Railways and Oktyabrskaya Railways, promptly responding to changes in the transportation and logistics market, have identified and are successfully implementing the necessary measures to develop railway infrastructure sections on route to the ports in the North-Western region of the Russian Federation...

Distant countries, friendly states named as priority markets for Belarusian exporters
Yuri Chebotar spoke about the tasks in terms of regional development, support for entrepreneurship, removing obstacles and barriers to domestic products in the Russian and Eurasian markets, increasing merchandise exports to China...

Belarus’ PM: Export should be a priority
"We have managed to adapt our economy to severe and illegal restrictions, we have changed our export strategies"...

Belarus, Uzbekistan discuss joint industrial projects
Belarus maintained a positive trend in industrial cooperation with Uzbekistan in 2023. Trade of the Industry Ministry's enterprises with Uzbekistan increased by a third compared to 2022, including an increase in exports by almost 45%...