Business news

MINSK, 12 July (BelTA) - Belarus’ Ministry of Foreign Affairs has suggested new instruments of financial support to exporters, First Deputy Minister of Foreign Affairs Andrei Yevdochenko said at a meeting between the diplomatic corps and manufacturers in the Belarusian Chamber of Commerce and Industry, BelTA has learned.

“Last year, when we debated these issues at the Presidium of the Council of Ministers, many ideas of the Ministry of Foreign Affairs were supported. We hope that two ideas will materialize this year. This is a 50% compensation to our exporters for participation in exhibitions and fairs abroad (50% of the cost of exhibition space and expenses for the construction of a pavilion will be compensated). Another suggestion is to reimburse part of product certification expenses for companies operating in foreign markets. It is also about 50% under certain conditions,” Andrei Yevdochenko said.

At the same time, he noted that in export promotion a lot depends on individual approach to every exporter and a commodity group.

This year the situation with exports, according to the Ministry of Foreign Affairs, is good. The growth was almost 22% in January-May. “But unfortunately, a new wave of crisis is beginning to take shape throughout the world. Different economic and commercial disputes, sanctions and counter-sanctions have already led to significant changes in the markets,” Andrei Yevdochenko noted. Physical volumes of Belarusian export have been growing at a slower pace, while prices for a range of products in foreign markets have been reducing. “We did not cause this situation. Global players who have been fueling this crisis spiral are not going to rein in their appetites and continue to act in the same way,” he stated. With this in mind, the heads of the diplomatic missions were asked to inform promptly the ministry about systemic changes in the countries and regions they are based and how this might affect the interests of Belarus.