Business news

KIEV, 10 April (BelTA) – Belarus and Ukraine plan to reach $5.5-6 billion in mutual trade in 2018, Ambassador Extraordinary and Plenipotentiary of Belarus to Ukraine Igor Sokol told the media after the official opening of Made in Belarus expo in Kiev on 10 April, BelTA has learned.

“The government has set forth a task to restore the mutual trade of $8 billion we had in 2012, our record-high achievement, in 2019. Due to objective reasons it declined then. Last year the trade went up by 20% in comparison with 2016 to total $4.6 billion. We have already made up $700 million in the first two months of 2018, with $400 million of them being our exports. I think we can reach $5.5-6 billion this year,” the ambassador said.

In 2017, Belarus’ exports increased by 18% to $3.7 billion, while imports from Ukraine went up almost 24% to $1.2 billion. Speaking about the ways to boost mutual trade, Igor Sokol said that first of all these are supplies of products of mechanical engineering, petrochemistry, light industry, and food to Ukraine. Ukraine mainly exports its agro-industrial products to Belarus.

“We hope that the exhibition will result in new contracts on mutual supplies and agreements on closer interaction, such as joint manufacturing facilities and industrial cooperation. I am confident that the forthcoming meetings will lay down robust foundation to implement promising projects in both the countries and make full use of the industrial and intellectual potential of Belarus and Ukraine,” the ambassador stressed.

According to Igor Sokol, another event important for bilateral cooperation will be the Forum of Regions of Belarus and Ukraine scheduled to take place in Gomel in October.

The ambassador added that Ukrainian banks actively use Belarusian exports concessional financing programs. These are mainly the exports of mechanical engineering products. “These are very favorable terms for Ukrainian farmers to buy agricultural equipment. Since 2015 we have supplied $600 million worth of equipment under concessional financing programs,” he said.

There are eight joint assemble plants in Ukraine. The two states also cooperate in the joint production of utilities and fire engineering equipment. “We are ready to expand the assortment of equipment which is in demand in Ukraine,” Igor Sokol said.

Made in Belarus expo is taking place at the Kiev International Exhibition Center on 10-14 April. Taking part in the exhibition are more than 50 Belarusian companies that have displayed their latest products in mechanical engineering and petrochemistry, transport and logistics, agriculture and food, light industry and tourism.

The exhibition in Kiev will also include a business program with presentations of Belarusian enterprises. The key event of the business program will be the conference "Ukraine-Belarus: prospects for cooperation" on 10 April. The event will be attended by representatives of government bodies of the two countries, the Belarusian Chamber of Commerce and Industry and the Ukrainian Chamber of Commerce and Industry.

The exhibition Made in Belarus in Kiev is organized by the Belarusian Chamber of Commerce and Industry. The operator is the Belinterexpo of the Belarusian Chamber of Commerce and Industry. The event is supported by the Embassy of Belarus in Ukraine, the Ukrainian Chamber of Commerce and Industry, government bodies and business associations of the two countries.