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Economy
23 November 2022, 11:32

Belarus' vice premier: Export of engineering products to friendly countries up by $1.2bn

An archive photo
An archive photo

MINSK, 23 November (BelTA) – The export of engineering products to friendly countries grew by $1.2 billion, Deputy Prime Minister Piotr Parkhomchik said at a joint meeting of the House of Representatives and the Council of the Republic, BelTA has learned.

Piotr Parkhomchik told what has been done and is being done to mitigate the impact of the sanctions. “First, the government promptly adopted a package of countermeasures aimed primarily at supporting production, resolving logistics issues and redirecting exports away from unfriendly countries. As far as specific industries are concerned, more than 25 legal acts were adopted in 2022 to support the industrial complex. This includes financial recovery measures and debt restructuring of individual companies in the real sector,” he said.

Second, a lot of work has been done to develop alternative routes for Belarusian exports. “Belarus and Russia signed an intergovernmental agreement in the field of transportation and transshipment of petroleum products and a cooperation agreement in transportation of certain types of cargo through transport corridors passing through the territories of Belarus and the Russian Federation. These agreements will ensure stable transshipment of Belarusian petroleum products through the ports of the northwestern region and southern seaports, and also guarantee the access of Belarusian business entities to services in Russian ports,” the deputy prime minister added.

“In January-September this year, the export to Western and Ukrainian markets dropped by $6.1 billion. Yet, due to our efforts to redirect export flows, the export to friendly countries increased by $5.2 billion,” the deputy prime minister said.

Piotr Parkhomchik drew attention to the fact that mechanical engineering managed to completely redirect the export of electrical equipment, ground freight and passenger transport. The work on redirecting the export of other commodities continues. “The export of engineering products to friendly countries rose by $1.2 billion, while the export to unfriendly countries dropped by $325 million,” he said.

The deputy prime minister offered specific examples. “The $33 million reduction in the export of trucks to unfriendly countries and Ukraine was offset by the $185 million increase in exports to friendly countries (or 5.6 times). As to spare parts for vehicles, the loss of $18 million was offset by the $103 million increase in deliveries. The export of buses to friendly countries increased by $59 million, while the lost exports to Western markets were estimated at $11 million. The $21 million drop in the export of refrigerators and freezers to unfriendly markets was almost three times offset by the increase in the export to friendly countries (plus $63 million),” the deputy prime minister added.

Light industry exports have also been completely redirected to Russia and Asian countries. “While shipments to unfriendly countries dropped by $117 million, the export to friendly countries rose by $157 million,” he stated.

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