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Belarus, UK to launch Trade Dialogue in June

Economy 12.06.2019 | 09:41

MINSK, 12 June (BelTA) – Belarus and the United Kingdom will launch a Trade Dialogue process in June, Belarus Premier Sergei Rumas told reporters on 11 June commenting on his meeting with Minister of State for Trade Policy at the Department for International Trade George Hollingbery in London, BelTA has learned.

“We discussed foreign trade at the meeting with George Hollingbery. The UK has long been our important trading partner. The major outcome of the meeting is the decision to launch the Trade Dialogue procedure during George Hollingbery's visit to Minsk for the 2nd European Games where he will represent the UK government,” Sergei Rumas said.

The Trade Dialogue is similar to the Belarus-UK intergovernmental commission. “We hope that this process supervised by the two governments will give a boost to our trade,” the head of government noted.

The memorandum of trade and economic cooperation envisaging the establishment of the Trade Dialogue at the level of the governments of Belarus and the UK was signed in 2018. It seeks to expand cooperation in mutual trade and investment.

The United Kingdom is one of Belarus' major trading partners. Belarus' major exports to the UK include petroleum products, coal tar distillates, unalloyed steel rods, waste vegetable oils, untreated lead, furniture, liquid crystal devices and lasers, aluminum metalwork, ferrous metal products. In January-April, the trade between Belarus and the UK amounted to $1,027.3 million; Belarus posted a trade surplus of $843.3 million.

The two countries could deepen cooperation in mining, chemical and metallurgical industries, innovations, science and technology. Belarus is highly interested in cooperation in pharmaceutics and biotechnology, automotive industry, food and light industry, and information technology.

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