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Opinions & Interviews

30 Aug 2017

Belarus, Poland encouraged to aim for $3bn in mutual trade

Belarus, Poland encouraged to aim for $3bn in mutual trade

MINSK, 30 August (BelTA) – Belarus and Poland should increase bilateral trade to $3 billion, Belarus’ Vice Premier Mikhail Rusy said at a meeting with a Polish delegation led by Vice Speaker of the Polish Sejm Ryszard Terlecki on 30 August, BelTA has learned.

“As the head of the Belarusian part of the joint Belarusian-Polish commission on economic cooperation, I can say that at some point we were lagging behind. The trade of $3 billion or more is the level we should be aimed at. I would like to thank our Polish counterparts that we have recently managed to make a step towards addressing a number of issues,” Mikhail Rusy said.

In 2016 the trade between Belarus and Poland totaled $2 billion. In H1 2017 it reached $1.189 billion (the growth of 110.7%). Belarus’ main exports to Poland include oil products, potash fertilizers, chipboards, rough timber, mineral fertilizers. Belarus buys Polish apples, tomatoes, milk and cream, medicine and other products.

The vice premier expressed readiness to expand cooperation with Poland in different areas. “Poland is a reliable and important trading partner for Belarus. We are interested in setting up high-tech enterprises, introducing European standards. Such work is underway. However, we still need to do more,” he believes.

In H1 2017 Poland ranked fourth among the investors in the Belarusian economy, behind Russia, the UK and Cyprus. Belarus attracted a total of $151.88 million (up 139%) of Polish investment. “Polish companies are implementing a number of important investment projects to produce furniture, building materials, equipment for supermarkets. Polish construction companies have proved themselves very well. All necessary conditions will be created to further develop this business. I believe Poland can make it to the top three investors in Belarus,” Mikhail Rusy added.

Ryszard Terlecki noted that although Poland and Belarus are the members of different unions (EU and EAEU), it is of high importance for the neighbors to develop mutually beneficial cooperation that will benefit both the nations. “A lot has taken place over the past year. We have new projects, new investments. We get positive signals. We can do much more,” he said.

 

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