Business news

MINSK, 17 May (BelTA) - Belarus intends to expand the range of products exported to Saudi Arabia, Deputy Chairman of the Belarusian Chamber of Commerce and Industry Vladimir Ulakhovich said before the opening of the Belarus-Saudi Arabia business forum, BelTA has learned.

“So far Belarus has exported 37 product items to Saudi Arabia, including machinery and high-tech equipment. Today we are discussing joint manufactures and greater presence of our products in the market of Saudi Arabia. This market is very complex, and requires high quality standards from our side. And this is another challenge for our manufacturers,” Vladimir Ulakhovich said. According to him, Belarus may supply Saudi Arabia with a wide range of engineering products, including special-purpose, high-tech products in the field of tool engineering.

Vladimir Ulakhovich stressed that Saudi Arabia plays a key role in the global oil market; the country has large financial resources. “Saudi Arabia sets out the ambitious goal of substantially reducing the dependence on oil by 2020. The Kingdom is working to diversify the economy and develop industry. In this regard, Belarus is a very valuable and important partner,” he believes.

In his turn, the head of the Saudi delegation, Chairman of the Board and CEO of ITEAC Dr. Amin Al Shanqiti expressed interest in cooperation with Belarusian companies in ICT, real estate, security, agriculture and engineering.

Over 70 Belarusian companies and 18 companies from Saudi Arabia are taking part in the Belarus-Saudi Arabia business forum. The forum considers prospects for establishing and expanding bilateral trade and economic cooperation in construction, production of building materials, woodworking, chemistry and heavy industry (trucks, building machinery), energy, military equipment, telecommunications, information technology, real estate, trade and investments, food products, pharmaceutics, tourism. The forum will include a business matchmaking session.

The event is held as part of the first visit of the delegation of Saudi Arabia to Belarus. The delegation includes representatives of various government bodies and business circles.