Projects
Government Bodies
Flag Friday, 29 March 2024
All news
All news
Economy
26 June 2017, 14:27

Belarus' export promotion system upgraded

MINSK, 26 June (BelTA) – The national export development and promotion system has been modernized in Belarus, First Vice Premier Vasily Matyushevsky said speaking at the joint session of the Belarusian parliament on 26 June, BelTA has learned.

“The national export development and promotion system has been upgraded to shift to high-technology products in the commodity pattern of the exports. The new mechanisms are based on the best international practices and the following principles: loans to end users (nonresidents) of Belarusian products and not to finance the current activity of the company; export loans issued only through the Development Bank; loans for the approved list of technically sophisticated high value-added goods which acquisition requires long-term lending, and, finally, subsidization of interest rates for non-residents, including banks and leasing companies, that provide loans on the acquisition of Belarusian equipment and international leasing,” he said.

According to Vasily Matyushevsky, for an open economy of Belarus exports will remain a priority of the state scale. “There are two major goals which are the commodity and country diversification. In 2020 the export basket should be divided into three equal segments: the EAEU, EU and third markets,” he explained.

“The efforts to improve the national foreign trade administration system will continue this year. A document has been signed to expand the deadline for completing foreign economic operations from 90 (120 under agreements of the commission) to 180 calendar days in export operations and from 60 to 90 days in imports,” the first vice premier said. He stressed that the success in the implementation of the currency legislation liberalization goals directly depend on the exports and the growth of currency proceeds of economic entities, long-term foreign financing and an innovative economic path.

Subscribe to us
Twitter
Recent news from Belarus