Business news

MINSK, 13 July (BelTA) – Kiev will host the 25^th session of the Belarusian-Ukrainian intergovernmental commission for trade and economic cooperation on 17-18 July. The sides plan to review the promotion of bilateral trade, cooperation in manufacturing, mechanical engineering, transport, agribusiness, culture, education, sports and tourism, spokesperson for the Belarusian Ministry of Foreign Affairs Dmitry Mironchik said at a press briefing on 13 July, BelTA has learned.

The agreements to be achieved during the session are expected to help intensify Belarus-Ukraine cooperation in the main fields of mutual interest and encourage bilateral trade.

Dmitry Mironchik noted that in 2017 Minsk and Kiev eliminated key barriers to mutual market access. The sides agreed on the terms of the sanitary and hygienic expert evaluation of the Ukrainian products imported by Belarus and abandoned the special 39.2% tax on a number of Belarusian export items to Ukraine.

As a result, in 2016 Belarus-Ukraine trade went up by 10% to total $3.8 billion. Ukraine has confirmed its status of Belarus’ second major trading partner. Its share in Belarus’ trade made up 7.5%. In turn, the share of the Belarusian products in the Ukrainian imports is over 7%.

Trade is maintaining positive momentum in 2017, too. In January-May it rose by 26.7% up to $1.7 billion, accompanied by increasing supplies from both sides.