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17 June 2016, 14:46

Belarus set to boost export of goods and services by 21-25% by 2020

MINSK, 17 June (BelTA) – Belarus has plans to boost its export of goods and services by 21-25% by 2020. This objective is set out in the draft program for Belarus' social and economic development in 2016-2020 that will be discussed at the 5th Belarusian People's Congress, BelTA has learned.

The draft document reads that the key targets for the development of Belarus' foreign economic and trade relations are to increase the export of goods and services by 21-25%, ensure that exports outpace imports, and sell not less than 65% of the output abroad.

The country's exports will be diversified by penetrating the markets of the United States, the countries of the European Union, Latin America, East Asia, the Middle East and Africa and by strengthening cooperation with China and India. To achieve progress, Belarus will be working to draw up and implement regional export strategies, develop the logistics infrastructure, including its own terminals in seaports, use economic diplomacy tools, and improve the level of competence of specialists engaged in foreign economic activities, the draft program specifies.

In 2016-2020, Belarus' foreign economic policy will be aimed at achieving balanced foreign trade by securing high export growth rates, exploiting the country's competitive advantages, and taking an active part in the international division of labor and integration processes. The draft program establishes major foreign economic policy guidelines. These include to step up the effectiveness of the national export support and promotion system, improve customs administration, redirect the flow of commodities to new promising markets, strengthen the country's position in traditional markets, and expand trade and economic relations with different countries, regional groupings of states and international economic organizations, including the WTO. Belarus will place high priority on the development of cooperation with the countries of the European Union in trade, investments, transport, transit, cross-border and regional cooperation, visa easing and environmental protection.

The draft program also indicates that Belarus will step up efforts to increase its economic presence in Asia, Latin America, the Middle East and Africa and tap into the potential for cooperation with ‘distant arc' countries. It will also work to restore its presence in traditional markets, bolster exports to the European Union, and occupy new niches in the global market.

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