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20 Mar 2013

Lukashenko to hold talks with President of Singapore, meet with Prime Minister 21 March

SINGAPORE, 20 March (BelTA) - Belarus President Alexander Lukashenko, who is in Singapore on a state visit, is set to hold talks with President Tony Tan Keng Yam and meet with Prime Minister Lee Hsien Loong on 21 March, BelTA learned.

Members of the official Belarusian delegation will hold a series of bilateral meetings and negotiations with Singaporean counterparts, will take part in the Belarus-Singapore Business Forum.

Diplomatic relations between Belarus and Singapore were established in 1992. Major Belarusian exports to Singapore are Belshina tires. Alloyed-free steel wire shipments have been made for the first time in the last four years. Export of electronic integrated circuits increased by 10%. Belarusian Potash Company opened its office in Singapore in 2006; the trade house Belshina (Beltire Asia) was inaugurated in 2009 and the trade house BelAZ (Belasia) in 2011. For further re-export to other Asian countries Belarus supplied 45 MTZ tractors worth of $0.7 million to Singapore in 2012.

Belarus’ main imports include computer hardware, home appliances, radio and medical equipment, consumer goods.

In Belarus there are two companies with the Singaporean capital. They are engaged in trade and procurement activities, research work and production of electronic components. The aggregate authorized fund of the companies exceeds $0.4 million. In 2012 Singaporean investment in the Belarusian economy totaled $730,000.

The Belarusian Chamber of Commerce and Industry keeps in touch with the Singapore Business Federation. Contacts are also maintained between banking and financial circles of the two states. In November 2012 the delegation of the Ministry of Trade and Industry of Singapore took part in the Belarusian Investment Forum.

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