Business news

Belarus’ export to Kazakhstan exceeds $91m in January-February

MINSK, 9 April (BelTA) – The export of Belarusian goods and services to Kazakhstan amounted to $91.1 million in January-February 2019, nearly the same as in January-February a year before. At the same time, the export of products other than oil and petroleum products rose by more than 5% to reach $90.2 million, BelTA learned from the Belarusian Embassy in Kazakhstan.

Belarus’ key export commodities during this period were milk and dairy products, tractors and truck tractors, trucks, furniture, medicines, machines and devices for harvesting and threshing crops, frozen beef, petroleum products and tires.

Belarus had a trade surplus of nearly $78 million. The reason behind it is a drop in Kazakhstan’s import to Belarus by more than 26%, down to $13.2 million in January-February.

All in all, trade and economic cooperation between the two countries is gaining momentum. Kazakhstan has traditionally been one of Belarus’ biggest foreign trade partners. It is the third biggest partner in the CIS (following only Russia and Ukraine). 

Last year Kazakhstan’s investment in Belarus rose 4.8 times over 2017 to reach $18.8 million. Direct investment exceeded $18.3 million, up 5.2 times, including $1.4 million of net investment (up nearly 3 times).

The commodity distribution network of Belarusian companies in Kazakhstan features over 40 facilities set up with the help of Belarusian capital, as well as over 170 facilities of the dealer network. Eight joint ventures to assemble Belarusian machinery and equipment are in operation in Kazakhstan (BelAZ, MTZ, Gomselmash, MAZ, Bobruiskagromash, etc).

Belarus is home to 45 companies with Kazakhstan capital, including 13 joint ventures and 32 foreign companies. There are 256 companies with Belarusian capital in Kazakhstan. 

The embassy hopes that bilateral economic cooperation will get a new impetus following a large-scale exhibition of Belarusian goods Made in Belarus that opened in Almaty on 9 April. Over 50 Belarusian companies will showcase about 300 brands in the Atakent International Exhibition Center.

A Kazakhstan-Belarus business forum kicked off in Almaty on 9 April. Participants of the forum will discuss cooperation in the manufacturing industry, establishment of joint ventures in the agricultural sector and the mining industry, implementation of infrastructure projects, technology transfer and tech partnerships, mutual investment and financing of export supplies, cooperation prospects in healthcare and tourism.

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