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12 April 2024, 14:09

Belarus’ Mogilev Oblast succeeds in reorienting exports to Russia, Africa

MOSCOW, 12 April (BelTA) – Belarus’ Mogilev Oblast is successfully reorienting its exports to the markets of Russia and African countries, Mogilev Vice Governor Ruslan Strakhar said at the presentation of the industrial and investment potential of Mogilev Oblast held at the All-Russian Exhibition of Economic Achievements in Moscow as part of the Days of Mogilev Oblast on 12 April, BelTA has learned.

“Amid unprecedented external challenges, close integration with our strategic partners - the Russian Federation, Asian and African countries - is of fundamental importance. Of course, economy is at the heart of cooperation, as it underlies any social processes. The main task for us is to build a mutually beneficial road for business, to agree on the supply of goods, to show our investment projects,” Ruslan Strakhar said.

In his words, the enterprises of Mogilev Oblast sells to more than 100 countries, while the annual export volume reaches $2.5 billion. The Belarusian region has a trade surplus of $900 million.

“Due to the geopolitical processes taking place today and the sanctions policy of the collective West, we are reorienting our commodity flows. Over the past three years the mutual trade between Mogilev Oblast and Russia has increased from RUB132 billion to RUB245 billion. We are actively exploring the African continent: last year we exported to ten African countries - Algeria, Ghana, Guinea, Egypt, Zimbabwe, Kenya, Madagascar, Morocco, Toga, Ethiopia,” the vice governor said.

“Restrictions on foreign markets are a time of great opportunities. Given the thoughtless withdrawal of many Western companies from our markets, it is also a time for mutual import substitution and strengthening of cooperation ties. Today import substitution is a strategic project and in many ways sets a trend for industrial development in the region. The work in this sector is well familiar to the enterprises of Mogilev Oblast, and is prioritized at all levels. Thus, 120 economic entities of the region, including 93 small and medium-sized businesses, were included in the Mogilev Oblast import substitution action plan for 2023. A total of 204 commodity items is currently produced as part of the ongoing import-substituting initiatives,” Ruslan Strakhar added.

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