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19 Dec 2018

Hope for lasting positive dynamics in Belarus-Germany trade

Hope for lasting positive dynamics in Belarus-Germany trade

SMOLEVICHI DISTRICT, 19 December (BelTA) – A positive turning point in Belarus-Germany trade and economic cooperation inspires optimism. Belarusian Deputy Minister of Foreign Affairs Evgeny Shestakov made the statement during the session of the Belarusian-German working group on trade and investments in the China-Belarus industrial park Great Stone on 19 December, BelTA has learned.

The official said: “The positive turning point, which emerged in trade, economic, and investment cooperation with Germany in 2017-2018, inspires certain optimism. I hope that through joint efforts we will be able to secure and advance this positive dynamics.”

Advancing mutually beneficial cooperation with Germany is of great practical significance for Belarus. First, Germany is traditionally one of the top five largest foreign trade partners of Belarus.

Second, Germany is one of the key partners in supplying a broad range of high-tech equipment that Belarusian companies need for retooling. “The so-called healthy import – machines, equipment, vehicles – represents more than half of all the import from Germany,” noted Evgeny Shestakov.

Third, Germany is one of the largest investors in the Belarusian economy. Over 300 companies with a share of German capital operate in Belarus. In January-September 2018 German investments in Belarus totaled $334 million, more than twice as much as in the entire last year.

Participants of the session discussed the development of trade, economic, and investment cooperation, prospects of interaction in finance, power engineering, and information technologies. Advanced training for executive personnel of the Belarusian economy was mentioned.

The delegations included representatives of Belarusian and German government agencies, the Belarusian Chamber of Commerce and Industry, the China-Belarus industrial park Great Stone, the Hi-Tech Park, the Development Bank of the Republic of Belarus, Belarusbank, the Belarusian Universal Commodity Exchange, the German Economic Group in Belarus, the German Energy Agency (DENA), and other organizations.

German partners also visited a number of facilities in the China-Belarus industrial park Great Stone where they were made familiar with prospects of the industrial park’s development, peculiarities of its operation, and business conditions.

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