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16 May 2022, 19:28

Belarus granted excellent opportunities for import substitution

MINSK, 16 May (BelTA) – Excellent opportunities for import substitution have opened up before Belarus. Belarusian Industry Minister Piotr Parkhomchik made the statement during a business trip to Lida, Grodno Oblast, BelTA has learned.

The Belarusian manufacturing sector develops rather successfully, the enterprises have increased their output volumes. “Western sanctions present some difficulties for us but there is a silver lining – excellent opportunities for import substitution have opened up before the country. Our designers and process engineers find new technical solutions for optimizing the components, which used to be supplied by Western countries. We were accustomed to expensive imports but now we have an opportunity to promote our products, which offer the same quality at a lower price,” Piotr Parkhomchik said.

Speaking about export, the industry minister noted that the enterprises are now trying to hold on to the existing markets. “We used to export about $1.5 billion worth of merchandise to Europe and Ukraine. Now we are trying to compensate for the sum by stepping up shipments to Russia and other CIS states, to Africa, and Asia,” Piotr Parkhomchik said.

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