Business news

MINSK, 14 December (BelTA) - Belarus’ export to Brazil increased by 23.5% in January-September 2018 year-on-year, Ambassador Extraordinary and Plenipotentiary of Belarus to Brazil Alexander Tserkovsky said in an interview with the journal “Markets Trends”, BelTA has learned.

In January-September 2018 the Belarusian export to Brazil amounted to $438.6 million as against $355.2 million in the same period of last year. An increase is 23.5%. Excluding the supplies of fertilizers, oil and gas products, the export growth stands at 80.9%. In general we are satisfied with the dynamics yet the export value could be definitely higher,” the diplomat said.

Potash fertilizers dominate Belarusian exports, which ensures a trade surplus for Belarus. “In January-September 2018, Brazil received 1.46 million tonnes of potash fertilizers from Belarus, which is somewhat less than in 2017. At the same time, the increase in market prices for fertilizers resulted in the growth of export value, equal almost 23%,” Alexander Tserkovsky noted.

According to him, in 2018 commodity nomenclature of Belarusian export to Brazil did not change significantly. Major items were potash and nitrogen fertilizers, petrochemicals and metallurgy products, textiles, and also goods of mechanical engineering and instrument making industries.

“Definitely we would like to see our wonderful foodstuffs, cosmetics and apparel on the shelves of Brazilian stores or our tractors and rock haulers in the fields and mines. To a large extent many Belarusian goods could be presented on the Brazilian market but their manufacturers must be able to withstand strong competition,” the Ambassador noted.

Economic partnership between countries may expand with the opening of the assembly plant for Belarusian tractors in the State of Goias. The parties signed a memorandum of intent in late November 2017. “The state authorities are looking for a commercial partner from the Brazilian side to implement the project. Therefore it is too early to suggest when the plant might come on stream,” Alexander Tserkovsky noted.