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31 Mar 2015

Belarus expects stronger investment presence from China

MINSK, 31 March (BelTA) – Belarus expects China to invest more in the country, Belarus Deputy Minister of Foreign Affairs Alexander Guryanov said during an online conference hosted by BelTA on 31 March.

“We expect wider presence and more FDI from China,” the deputy minister said. In his words, for this purpose an initiative has been developed for the Chinese-Belarusian Industrial Park that envisages joint administration. “We hope that the park will make the basis for attracting China’s leading companies to promote the implementation of joint projects,” Alexander Guryanov said.

In his words, the keynote idea of the cooperation between the two countries is a shift from simple trade to more advanced cooperation forms with an aim to increase trade. “In 2014 the mutual trade in goods and services totaled $4 billion, including $1 billion worth of Belarusian exports. There is a disbalance, however, we understand that it contains a considerable share of the investment import from China,” Alexander Guryanov said.

According to the deputy minister, Belarus posted surplus in mutual trade with China at the start of the bilateral relations with the People’s Republic of China. “Then we developed different loan programs and investment cooperation which led to a deficit in bilateral trade,” he added.

The deputy minister stressed that investment and industrial cooperation remains a priority in the relations with China.

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