MINSK, 14 August (BelTA) – It is important to elaborate export promotion schemes for the country's top-priority products, Belarus Economy Minister Vladimir Zinovsky said at the meeting of the Council of Ministers held on 14 August to discuss the country's social and economic development in H1 2015, BelTA informs.
According to the minister, the country has recently made progress in export diversification. The regional export pattern has become more balanced. Supplies to the non-CIS countries have increased. “In comparison with H1 2014 the export of goods to East Asia went up by 25%, to Africa by 20%, Central and Northern America by 49%,” said Vladimir Zinovsky.
At the same time, according to the minister, it should be remembered that access to new markets always means certain expenses and risks. Thus, tied or commodity loans are needed for the majority of supply contracts with Africa, Latin America and Asia. “A wise policy is crucial here. One needs to estimate financial flows, insure risks and, simply, have money for it,” the minister said.
Vladimir Zinovsky suggests using more selective instruments for export promotion. “We need to support, first thing, the products with the highest value added, including their promotion to new markets,” he explained. Today the country's supported exports include cheese, wallpaper, TV sets, fabric, wood chip board and other products. However, these are not those goods that come under Decree No.534, the minister said.
“I suggest the country's biggest exporters work out the corresponding export promotion schemes for the top-priority goods jointly with the Industry Ministry, the Ministry of Foreign Affairs, the Finance Ministry and the Economy Ministry. It is necessary to calculate the added value, the volume of loan resources and decide on a pinpoint support strategy. We cannot support all the exporters. It is impossible,” he said.
According to the Economy Minister, this work should be done within a month.
According to the minister, the country has recently made progress in export diversification. The regional export pattern has become more balanced. Supplies to the non-CIS countries have increased. “In comparison with H1 2014 the export of goods to East Asia went up by 25%, to Africa by 20%, Central and Northern America by 49%,” said Vladimir Zinovsky.
At the same time, according to the minister, it should be remembered that access to new markets always means certain expenses and risks. Thus, tied or commodity loans are needed for the majority of supply contracts with Africa, Latin America and Asia. “A wise policy is crucial here. One needs to estimate financial flows, insure risks and, simply, have money for it,” the minister said.
Vladimir Zinovsky suggests using more selective instruments for export promotion. “We need to support, first thing, the products with the highest value added, including their promotion to new markets,” he explained. Today the country's supported exports include cheese, wallpaper, TV sets, fabric, wood chip board and other products. However, these are not those goods that come under Decree No.534, the minister said.
“I suggest the country's biggest exporters work out the corresponding export promotion schemes for the top-priority goods jointly with the Industry Ministry, the Ministry of Foreign Affairs, the Finance Ministry and the Economy Ministry. It is necessary to calculate the added value, the volume of loan resources and decide on a pinpoint support strategy. We cannot support all the exporters. It is impossible,” he said.
According to the Economy Minister, this work should be done within a month.
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