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5 Jul 2019

Belarus-Kazakhstan trade projected to reach $1bn in 2019

Belarus-Kazakhstan trade projected to reach $1bn in 2019

MINSK, 5 July (BelTA) – Belarus-Kazakhstan trade may reach $1 billion in 2019. The plans were discussed at the session of the Belarusian-Kazakh business council on 5 July, BelTA has learned.

Chairman of the Belarusian Chamber of Commerce and Industry Vladimir Ulakhovich told reporters on 5 July that Belarus-Kazakhstan relations develop very dynamically and positively. As many as 40 Belarusian distribution network entities as well as 256 enterprises with Belarusian capital operate in Kazakhstan while 49 enterprises with Kazakh capital operate in Belarus. “Trade turnover is constantly on the rise. We are close to reaching $1 billion,” he said. In 2018 Belarus-Kazakhstan trade exceeded $890 million, with Belarus securing a foreign trade surplus.

Belarus-Kazakhstan cooperation has been established in line with the relevant roadmap. The Belarusian side provides assistance with large-scale projects, for instance, with Kazakhstan’s industrialization program. Besides, Belarus-Kazakhstan interaction advances within the framework of the Eurasian Economic Union.

According to Vladimir Ulakhovich, on 5 July participants of the business council session are expected to discuss the advancement of manufacturing cooperation, trade ties, and matters of logistics taking into account the fact Belarus and Kazakhstan participate in the Belt and Road initiative.

Asked about prospects of deliveries of Kazakh oil and natural gas to Belarus, Vladimir Ulakhovich noted it was a serious matter that requires additional work and logistics efforts. “It is a major serious prospect. Kazakhstan is rich in resources,” he added.

Ambassador of Kazakhstan to Belarus Yermukhamet Yertysbayev said that Belarus-Kazakhstan trade totaled $257 million in Q2 2019. In his words, Belarusian products are broadly represented on the Kazakh market and Kazakhstan also intends to seriously expand its presence in Belarus.

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