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29 Sep 2016

Belarus, China to build mutual gain architecture in economic cooperation

Belarusian and Chinese officials signed about 30 agreements and memorandums on the development of cooperation in various fields, including the manufacturing sector and investments, finance, trade, education, and tourismBEIJING, 29 September (BelTA) – Belarus and China intend to build an architecture of mutual gains in their economic cooperation, BelTA learned from the joint declaration signed by Belarus President Alexander Lukashenko and China President Xi Jinping after official negotiations in Beijing on 29 September.

The joint declaration reads: “The sides are united in their belief that trade, economic, investment, and financial cooperation represents the driving force of Belarusian-Chinese relations. The sides will take concerted measures to form an architecture of mutual gains and common benefits. This architecture will boast diversified, large-scale and multilayer cooperation. The material base of Belarusian-Chinese comprehensive strategic cooperation will be consistently filled.”

While observing market rules, the sides are also ready to expand trade and manufacturing of mechanical engineering products, high and new technologies, electronics, agricultural products, chemical products, textiles and other competitive goods. Belarus and China will work together to simplify mutual trade terms. Belarus and China will consider new ways to trade such as electronic business and will encourage the synchronous growth of the volume and level of bilateral trade.

Belarus and China also stated their readiness to advance cooperation in the sphere of manufacturing potential. It will open up new prospects for interaction, for getting major Chinese companies involved in projects meant to step up manufacturing cooperation and increase the Chinese share in the charter capital of Belarusian companies.

Belarusian and Chinese officials signed about 30 agreements and memorandums on the development of cooperation in various fields, including the manufacturing sector and investments, finance, trade, education, and tourismBelarus and China have agreed to bolster investment, technical, and economic cooperation in infrastructure construction, mechanical engineering, automobile assembly, agribusiness, power engineering, electric energy, extraction and deep processing of mineral resources, biopharmaceutics, real estate, pulp and paper industry, and other spheres.

Belarus and China intend to further improve the operation and administration the China-Belarus industrial park Great Stone. They will enable a favorable political and investment climate. China is ready to continue helping major manufacturers and high-tech Chinese enterprises become residents of the China-Belarus industrial park. China will encourage investments of Chinese companies in innovative projects and the establishment of new high-tech enterprises in the industrial park.

The document also declares interest in stepping up transactions in national currencies in Belarus-China trade and investment cooperation.

On the whole, the joint declaration reflects intentions to advance Belarusian-Chinese cooperation in many areas ranging from education and tourism to interregional cooperation, logistics, and transportation by air. Belarus and China also intend to work together to counteract various kinds of crime, prevent emergencies and alleviate their consequences.

Belarus-China: trade and economic cooperation

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