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Paperless trading system may bring Belarus $10m in benefits annually

MINSK, 31 January (BelTA) – The development of a national paperless trading system may bring Belarus up to $10 million in benefits every year, Ambassador Extraordinary and Plenipotentiary of Belarus to Korea Andrei Popkov said in an interview to the Konyunktura Rynkov [Market Trends] magazine, BelTA has learned.

Belarus believes that cooperation with the Korean trade network KTNET, one of the South-Korean leaders in electronic administration of economic activities, is important for the development of its national paperless trading system, the ambassador said. 

“According to the company's preliminary estimates, the development of the national paperless trading system will bring Belarus some $10 million in annual benefits at the start and much more some five years later,” Andrei Popkov said.

KTNET intends to continue to work together to implement a paperless trade system in Belarus. The company also offers to cooperate in other areas to improve economic and financial information systems, including electronic public procurement. “Since 2018 Belarus has been part of Korea's Knowledge Sharing Program (KSP). The project is funded by the Republic of Korea and is aimed at sharing the country’s experience in digital economy, modern management and business,” the diplomat said.

The Ambassador noted that the Republic of Korea has achieved impressive successes in ICT, development of e-Government and information society. The government invests about 4.5% of GDP annually in innovative development. This is one of the highest rates in the world.

“Over the past five years, the cooperation between Belarus and South Korean partners has gained momentum, primarily with the Korean National Information Society Agency (NIA). Every year the parties hold joint events, including business forums, seminars and exhibitions. Our main achievement in cooperation with NIA was the setting up of the Belarusian-Korean IT cooperation center in Minsk which is currently implementing the projects worth $1 million,” the diplomat said.

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