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13 Oct 2016

China’s Guangdong Province plans to invest in projects of Great Stone industrial park

MINSK, 13 October (BelTA) – Companies of China’s Guangdong Province have plans to participate in the projects of the China-Belarus industrial park Great Stone, Zhao Yufang, Vice Governor of the People’s Government of Guangdong Province, said at a trade, economy and tourism conference of Guangdong Province and Minsk Oblast on 13 October, BelTA has learned.

The Department of Commerce of Guangdong Province and Belarus’ Industrial Park Development Company signed a memorandum of cooperation. A protocol of cooperation between Guangdong Illuminating Electric Appliance Association and Belarus’ Industrial Park Development Company was also inked on 13 October.

“We hope that these steps will lead to the establishment of a research center in Belarus that would contribute to the development of ties between Belarusian and Chinese companies and facilitate the search for new fields of industrial cooperation,” Zhao Yufang noted.

Guangdong Illuminating Electric Appliance Association is comprised of more than 700 enterprises with aggregate annual sales exceeding RMB200 billion.

Guangdong Province is also interested in building a logistics corridor from China to Western Europe. This Chinese region with a population of over 100 million imports some $300-400 billion worth of goods annually. Belarusian companies can make more effort to promote their chemical and agricultural products on the market of this region. Belarus has good prospects for exporting vehicles and equipment, electric appliances, textiles and clothes to Guangdong Province. Plans have also been made to set up an exhibition platform in Belarus for the promotion of Chinese goods to the European Union and the countries of the Commonwealth of Independent States. Transcontinental freight traffic was mentioned as another promising cooperation field.

For his part, Deputy Chairman of the Minsk Oblast Executive Committee Oleg Plavsky emphasized the importance of strengthening interregional cooperation. He said that Minsk Oblast and Guangdong Province have already established strong partner relations. A twinning agreement was signed in 2012. China is a major trading parter of the Belarusian region. In 2015, the bilateral trade exceeded $1 billion. Belarus exported $654 million worth of products and imported $470 million worth of goods. Minsk Oblast received some $61.5 million in FDI from Chinese companies.

“We have made great progress in mutual trade, but these figures do not match our potential. We are willing to discuss other areas of cooperation,” said Oleg Plavsky.

Among the advantages of Belarus and Minsk Oblast in particular, he cited good geographical position, the access to the market of the Eurasian Economic Union, high-skilled working force, and stable economic situation. The Chinese-Belarusian industrial park Great Stone is the main platform for investment of Chinese companies in Belarus. Currently, the park has eight registered residents, including two companies from Guangdong Province.

Attending the conference are over 160 companies from all districts of Minsk Oblast. The Chinese delegation is composed of representatives of more than 60 enterprises operating in electronics, construction, chemicals, food industry and other fields.

Guangdong Province is located in the south of the People's Republic of China and is the most economically advanced region of the country. Last year its gross domestic product totaled $1.17 trillion, which was one ninth of China’s GDP. The average GDP per capita exceeds $10,000. Cooperation of Guangdong Province and the Republic of Belarus in various fields has gained a good momentum. The trade rose from $160 million in 2011 to $340 million in 2015. In January-August this year the parties signed contracts worth $125 million, up 1.4 times as against a year earlier.

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