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Business news

15 Jun 2018

Great potential for exporting Belarusian woodworking products to UK

MINSK, 15 June (BelTA) – Belarus has a large potential for exporting woodworking products to the UK. The relevant statement was made by UK Ambassador to Belarus Fionna Gibb during the Belarusian-British trade and economic forum on 15 June, BelTA has learned.

The ambassador said: “I know that Belarus pays close attention to the development of the potential for exporting woodworking products while the UK usually imports timber. This is why, I hope, we have a large potential for the development of these relations.”

Senior Counsellor of the Trade and Economic Affairs Office of the Embassy of Belarus in the UK Dmitry Sudas remarked that an analysis of export and import flows indicates a serious potential for directly selling Belarusian woodworking products, products made by the Belarusian state light industry concern Bellegprom, and food on the British market. “As the embassy we should primarily help Belarusian state-run enterprises. We are now working with the Development Bank, with BR Consult, the company in charge of managing a holding company of nine woodworking enterprises, in order to penetrate the British market. Representatives of a major British company visited four enterprises of the holding company last week. There are other potential buyers, too,” he added.

Dmitry Sudas also stressed that Belarus’ accession to the World Trade Organization can facilitate efforts to establish contacts and penetrate the UK market. “There is no doubt, we are looking forward to it. We are talking about internationally recognized work methods that the entire world understands,” said the diplomat.

The Belarusian-British trade and economic forum gathered about 130 representatives of 70 Belarusian companies and organizations. Executives and specialists of export and marketing divisions were offered information about practical assistance with helping Belarusian companies penetrate the highly profitable British market. A seminar on organizing the export of Belarusian products to the UK has been scheduled. This format will offer information about how the British market should be analyzed and reliable partners can be found.

In January-April Belarus-UK trade totaled $1,230.2 million, 158.7% as against January-April 2017. Belarus’ merchandise export reached $1,144.1 million (161.6%), with import at $86.1 million (128%). The UK ranks second in terms of investments in the Belarusian economy with the total volume of investments at $2.6 billion in 2017.

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