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25 May 2021, 20:01

Information system to facilitate Belarus' export, import operations

MINSK, 25 May (BelTA) – The Council of Ministers' resolution No.284 of 22 May 2021 provides for setting up a complex system to facilitate export and import operations, BelTA learned from the national legal information website law.by.

The system will be established as an organized array of information resources and technologies that will take care of collection, processing, storage, systematization, actualization, and distribution of foreign trade information. The system will also enable interaction of commercial entities, which are involved in foreign trade operations, and national export support institutions. The system will be able to increase the effectiveness of financial and non-financial tools meant to support participants of foreign trade operations. Access to these mechanisms will be expanded.

The Development Bank of the Republic of Belarus will set up an agency in charge of foreign economic activities in order to set up and operate the system. The agency will act as a national institution designed to support export. It will interact with other national export facilitating institutions, government agencies, and other organizations. The agency's operation will be regulated by a dedicated resolution.

The agency will have to create and maintain registries of import, export, and end users of Belarusian goods. The information will be provided to foreign trade participants with a state share in their charter capital. The agency will be entrusted with a number of functions. In particular, it will have to launch a digital platform for the country's foreign trade operations using the one-stop shop principle.

The measures are expected to help enable favorable conditions for foreign trade operations and help build a digital economy in Belarus.

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