Photo courtesy of the Development Bank
MINSK, 11 March (BelTA) - Belarus and Kyrgyzstan plan to increase mutual trade many-fold. First Deputy Chairman of the Board of the Development Bank Roman Brodov discussed the matter with Ambassador Extraordinary and Plenipotentiary of the Kyrgyz Republic to the Republic of Belarus Erbol Sultanbaev, BelTA learned from the press service of the Development Bank.
“The growth of trade and economic cooperation is a priority for both countries,” Erbol Sultanbaev emphasized. “This is evidenced by the ambitious figure of $500 million declared at the last meeting of the intergovernmental commission in Bishkek. This is the trade we should achieve by joint efforts in the coming years. Therefore, the use of all available opportunities and consolidation of efforts of producers, consumers and financial organizations is more relevant than ever.”
According to the ambassador, Belarusian products, particularly farming machinery and elevator equipment, have earned a good reputation among Kyrgyz consumers. Thus, despite the great competition in this segment, they give their preference to Belarusian products.
“We are interested in purchasing Belarusian industrial goods using the Development Bank's export credit mechanisms,” the diplomat continued. “Therefore, we would like to discuss in detail the terms of each available financial instrument and work out a model for further interaction.”
Roman Brodov thanked Erbol Sultanbaev for his high appreciation of Belarusian machinery and domestic manufacturers, and also spoke in detail about the approaches to the export direction formed in the Development Bank.
“Our country has developed a wide range of mechanisms to support Belarusian exports, where the Development Bank occupies one of the key roles,” he said. “We have an extensive experience in implementing large-scale foreign trade projects and financing non-residents. We are interested in strengthening trade and economic cooperation with Kyrgyzstan, and we have all the necessary effective financial instruments for this purpose.”
The parties discussed in detail the interest rates, terms, amounts, insurance and other conditions of each model of export crediting by the Development Bank for purchases by Kyrgyz partners of various Belarusian goods. The parties agreed to continue intensive cooperation to ensure a many-fold increase in mutual trade between the two countries.
“The growth of trade and economic cooperation is a priority for both countries,” Erbol Sultanbaev emphasized. “This is evidenced by the ambitious figure of $500 million declared at the last meeting of the intergovernmental commission in Bishkek. This is the trade we should achieve by joint efforts in the coming years. Therefore, the use of all available opportunities and consolidation of efforts of producers, consumers and financial organizations is more relevant than ever.”
According to the ambassador, Belarusian products, particularly farming machinery and elevator equipment, have earned a good reputation among Kyrgyz consumers. Thus, despite the great competition in this segment, they give their preference to Belarusian products.
“We are interested in purchasing Belarusian industrial goods using the Development Bank's export credit mechanisms,” the diplomat continued. “Therefore, we would like to discuss in detail the terms of each available financial instrument and work out a model for further interaction.”
Roman Brodov thanked Erbol Sultanbaev for his high appreciation of Belarusian machinery and domestic manufacturers, and also spoke in detail about the approaches to the export direction formed in the Development Bank.
“Our country has developed a wide range of mechanisms to support Belarusian exports, where the Development Bank occupies one of the key roles,” he said. “We have an extensive experience in implementing large-scale foreign trade projects and financing non-residents. We are interested in strengthening trade and economic cooperation with Kyrgyzstan, and we have all the necessary effective financial instruments for this purpose.”
The parties discussed in detail the interest rates, terms, amounts, insurance and other conditions of each model of export crediting by the Development Bank for purchases by Kyrgyz partners of various Belarusian goods. The parties agreed to continue intensive cooperation to ensure a many-fold increase in mutual trade between the two countries.
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