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6 Aug 2019

Belarus-India trade expected at $600m in 2019

Belarus-India trade expected at $600m in 2019

MINSK, 6 August (BelTA) – Belarus-India trade might reach about $600 million in 2019, Ambassador Extraordinary and Plenipotentiary of Belarus to India with concurrent accreditation in Bangladesh, Nepal and Sri Lanka Andrei Rzheussky told reporters in the run-up to his business meeting with honorary consuls at the Belarusian Chamber of Commerce and Industry (BelCCI), BelTA has learned.

“Our aggregate export over the past half a year makes up slightly less than $300 million. This is virtually the same as our export over the entire last year,” the diplomat said. In his view, bilateral trade might reach about $600 million by the year-end. “We still have a lot of reserves and opportunities till the end of the year. We count on the export of advanced technology products,” the ambassador said. 

In general, Belarus is interested in the markets of India, Bangladesh, Nepal and Sri Lanka. Belarusian products sell very well there. Today, Belarus’ export to this region is  dominated by potash fertilizers, which are in great demand in these countries. “However, we are trying to expand our product range. We supply various petrochemical products, paper, complex mechanisms, we have plans to ship trucks to India. There is a project for joint production of tractors (or some components for them) and combine harvesters. We have very good prospects for the supply of mining trucks to India,” Andrei Rzheussky said. Some progress has been achieved in helping Bangladesh mechanize its agricultural industry. In addition, this involves the supply of a full cycle of equipment for production of dairy and meat products, he added.

A contract to supply 450,000 tonnes of potash fertilizers to Bangladesh was signed in July. Shipments have already been launched. “A contract with India is on the way,” the diplomat said.

BelCCI Chairman Vladimir Ulakhovich also sees great opportunities in trade between Belarus and India. “India is a global player, its economy grows by 8%. It boasts a rapidly expanding manufacturing industry and information technology sector,” he said.

"Cooperation with other countries of this region also holds a lot of promise," said Vladimir Ulakhovich. In particular, Bangladesh needs everything that has to do with mechanical engineering, agricultural technology, and food. So far, Belarus ships mostly potash fertilizers to Sri Lanka, but there are some projects in the agricultural sector; pharmaceutics is another promising avenue of cooperation. “Thus, together all these countries should become our serious trade and economic partners,” the BelCCI chairman concluded.

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