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30 Apr 2015

Belarus eager to trade more with Laos

MINSK, 30 April (BelTA) – Belarus’ capabilities can satisfy requirements of the rapidly developing economy of Laos to a considerable degree, BelTA learned from Sergei Rumas, Chairman of the Board of the Development Bank of the Republic of Belarus, co-chairman of the joint commission on bilateral cooperation between the governments of Belarus and Laos, during the second session of the commission in Minsk on 30 April.

According to Sergei Rumas, the existing potential for bilateral cooperation is yet untapped in many areas. “Unfortunately, our trade has not been stable. Although we secured a 12-time increase in trade turnover in 2014, the first two months of 2015 indicate that no serious export and import operations exist between our countries. Despite the fact we see prospects for trade and economic relations. Belarus’ capabilities can satisfy requirements of the rapidly developing economy of Laos to a considerable degree,” said Sergei Rumas.

The official remarked that Belarus pays close attention to the development of the production sector, agriculture, the scientific and technological basis. “Laos is eager to develop these spheres, too. We are ready to offer our experience and knowledge in these fields to you. Among other ones the factor signifies the complementarity of the two economies,” said Sergei Rumas.

Belarus is primarily interested in exporting more Belarusian products of the kinds that Laos imports from other countries these days. The product range includes tires, petrochemical industry products, agricultural machines and trucks, engines, food, milk powder and other things. “Laos imports these commodities and we rightly believe that quality Belarusian products can successfully compete with products made in third countries,” said Sergei Rumas. He drew attention to the potential for cooperation in trade in machine-building products that Belarus can sell. “Unfortunately, such trade deals are few and far between but since the Development Bank and the Foreign Trade Bank have signed an agreement on financing export to Laos, we believe that the move will create prerequisites for bigger contracts for our exporting enterprises. Those are primarily MAZ, MTZ, and Amkodor,” explained the co-chairman of the Belarusian-Laotian commission.

In his words, on the whole, Belarus considers dialogue with Laos as the most important direction of the foreign policy in Southeast Asia and thinks highly of results of the first visit of Laos President Choummaly Sayasone in summer 2013. The Belarusian Ministry of Foreign Affairs is now working on the possibility of the reciprocal visit of the Belarusian head of state to Laos taking into account the schedule of international visits, said Sergei Rumas.

 

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