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21 May 2018

Belarus, China urged to seek new online trade cooperation model

WUHAN, 21 May (BelTA) – Belarus and China will look for a new model of cooperation in the area of electronic commerce. The statement was made by Aleksei Matsevilo, Head of the Central Office for Economic Integration of the Belarusian Economy Ministry, in his speech during the international seminar Belt and Road. Introduction to Hubei in the city of Wuhan, BelTA has learned.

The official stressed that China President Xi Jinping had suggested a new idea for building a common destiny community as part of the Belt and Road initiative. It is a great idea of the 21st century. It is necessary to work together to implement it, he said.

“Joint development of the countries within the framework of the concept goes beyond simple trade. We are talking about more advanced manufacturing cooperation and integration on the basis of mutual placement of manufacturing facilities,” said the Belarusian Economy Ministry representative. “During the seminar we saw a strong interest in advancing cooperation with Belarus on the part of Hubei Province companies. Those are companies with a high manufacturing level and high-quality products.”

Aleksei Matsevilo pointed out that the Economy Ministry is in charge of raising foreign investments in Belarus. Economy Minister Vladimir Zinovsky heads the commission on trade and economic cooperation with China, this is why the Chinese companies, which arrive in Belarus, can count on support for their projects on the part of the Economy Ministry.

Aleksei Matsevilo mentioned green energy, mechanical engineering, organic agriculture, and pharmaceutics among promising avenues of cooperation with Hubei Province companies.

In his words, it is also necessary to find new cooperation models in the area of electronic commerce. “The old model, which relies on profits arising from the lack of duties and taxes, cannot live long anymore. The European Union has already passed a directive to tax this trade. The Eurasian Economic Union intends to reduce duty-free import limits every year, including for mail packages. The new model should generate profits through cooperation of digital platforms with local manufacturers as well as thanks to a good product choice, good quality products, and convenient service,” he said.

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