News & Events in Belarus
Lukashenko: Belarus, Austria should bolster bilateral cooperation
MINSK, 29 March (BelTA) – Belarus and Austria should enhance bilateral cooperation, first of all, in trade, Belarus President Alexander Lukashenko said during the talks with Federal Chancellor of Austria Sebastian Kurz on 28 March, BelTA informs.
“Let me officially welcome you again at the Palace of Independence, which is a symbol of independence of our state. You are always a welcome guest for us. You have never been afraid to visit Belarus, and we appreciate that,” Alexander Lukashenko said.
The president emphasized that the Belarusian-Austrian cooperation has a good historical basis. However, the results of economic interaction could have been better: the trade turnover slightly exceeded $170 million last year. “It is less than you invest in our country,” he said. “We need to bolster bilateral cooperation. And it, first of all, relies on trade, the trade turnover between our countries.”
The head of state added that the relations between the two countries have their roots in the Soviet period when Austrian companies were building large enterprises in Belarus. “We can say that these enterprises are top notch today,” Alexander Lukashenko said.
“We always welcome your investments in Belarus. If your big companies are interested (and you said that), I am ready to start a dialogue with the director of any company you like to discuss the joint manufacture of products you need,” the president said.
Previously Sebastian Kurz, the then minister of foreign affairs, visited Belarus twice in 2015 and 2017.
In 2018, the trade turnover of Belarus and Austria made up $171.4 million. Belarus’ major exports are base metal products, forestry and wood processing products, oil products. The structure of Belarus’ imports is dominated by investment goods (mostly machines and equipment), medications, vaccines. The export of services to Austria (the transport industry accounted for 78%) reached $116.1 million.
Austria is one of the biggest investors in the Belarusian economy. The inflow of investment was $296.7 million. The sides are mulling over new investment projects with the participation of Kronospan, A1 Telekom Austria Group and Lenzing (production of viscose fibers) to the tune of more than $500 million.
There are 83 enterprises with the Austrian capital (48 joint ventures and 35 foreign companies) and 20 offices of Austrian organizations in Belarus. There is an office of Belavia Airlines and three trading companies BELMET Handelsgesellschaft, RMZ Vertriebsgesellschaft (both with the participation of OAO BMZ), Soltrade (OAO Belaruskali) in Austria.
The legal framework between Belarus and Austria comprises 16 agreements.
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