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Belarus' exports of goods to UK up 60% in January-April

Economy 15.06.2018 | 14:25

MINSK, 15 June (BelTA) – In January-April 2018, Belarus increased its exports of goods to the UK by 61.6% as compared to the same period a year before, BelTA learned from the National Center for Marketing and Price Study of the Belarusian Ministry of Foreign Affairs, which is one of the organizers of the Belarusian-British trade and economic forum in Minsk.

In January-April 2018, the trade between the two countries amounted to $1,230.2 million, up 58.7% from January-April 2017. Belarus' exports made up $1,144.1 million (up 61.6%), imports - $86.1 million (28%). The UK ranks second among the countries investing in the Belarusian economy with the total investment of $2.6 billion in 2017.

According to Chief Councilor of the Trade and Economic Group at the Belarusian embassy in the UK Dmitry Sudas, the Belarusian-British trade and economic relations have been steadily developing in the recent years. The export of Belarusian products to the UK expanded with 30 new commodity items in 2017. “Belarus' main exports are oil products and also metal products, furniture, high-tech equipment, and others. On the whole, Belarus' exports to the UK include 200 commodity items,” he added.

“Belarusian companies understand that for entering high-yielding markets such as the UK, it is necessary to engage specialists with knowledge of foreign languages. We see this and are working on the matter,” Dmitry Sudas said.

In his words, the British market specifics can be a major constraint. “This market is very conservative. If a British company has a developed chain of deliveries of a certain product from different countries, it will not immediately change one supplier to another only because of a lower price. A certain period of study will follow. After that, a company may conclude a contract on small batch. With positive results, the supplies can be increased,” he said.

The forum is attended by about 130 representatives of 70 Belarusian enterprises and organizations. Managers and specialists of export and marketing services will learn about the applied aspects of assisting Belarusian companies in entering the high-yielding British market. The program of activities will also include a workshop on the organization of exports of Belarusian goods to the UK. The workshop will teach how to analyze the British market and find reliable partners for joint business.

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