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Minsk Oblast doubles exports to China in January-September 2019

Economy 14.11.2019 | 15:49

MINSK, 14 November (BelTA) – Minsk Oblast's exports to China more than doubled in January-September 2019, Chairperson of the Economy Ministry of the Minsk Oblast Executive Committee Tatyana Brantsevich told the media, BelTA has learned.

“In January-September, 2019 Minsk Oblast met all key development parameters. The task is to keep the pace. We are working with China. Minsk Oblast's exports to China more than doubled in the first 9 months of the year, from $178 million to $367 million (up 106%). This is one of the best records across the country, and we plan to encourage its further growth,” said Tatyana Brantsevich.

Belarus' main exports to China is potash fertilizers (Belarusian Potash Company), meat products (Agrokombinat Dzerzhinsky, Veles-Meat, Smolevichi Broiler) and dairy products (enterprises of Myasomolprom Holding Company, Minoblmyasomolprom, Minsk Dairy Plant No.1, Slutsk Cheese Factory).

In January-September 2019, China's FDI in Minsk Oblast amounted to $115 million, up 9% year-on-year. Net FDI made up $23.8 million. The bulk of FDI was attracted for the BelGee car production project ($91.1 million).

The Minsk Oblast Executive Committee plans to continue developing cooperation with China. The basis for new contracts was laid during the participation of a delegation from Minsk Oblast in the Second China International Import Expo in Shanghai. According to the chairperson of the Economy Committee, the event was attended by five enterprises of Minsk Oblast. One of them - Slutsk Cheese Factory - signed an agreement with Greenland Group for the supply of dairy products worth $100 million.

A delegation from Minsk Oblast also visited Guangzhou, the capital of Guangdong Province. At the meeting with the leadership of the Guangdong Union for International Scientific and Technical Cooperation with the CIS countries, a new medical equipment project was suggested for implementation in the China-Belarus industrial park Great Stone.

“I think it will be a breakthrough,” said Tatyana Brantsevich. “The healthcare technologies, proposed by the Chinese partner, have not been applied in Belarus before. The company has been certified for supplies to the European market and is interested in locating its manufacturing premises in the Great Stone Park. We have already sent an invitation. They will come to hold talks with the Healthcare Ministry on the possibility to apply this technology in the Belarusian healthcare sector. It will be a large-scale and significant project not only for Minsk Oblast, but also for the country in general,” she said.

Minsk Oblast has been developing multilateral cooperation with other countries, attracting resources for its economic development. In January-September 2019, the export growth made up 15%. “All economic sectors of the region have made a positive contribution to Gross Regional Product. The industrial sector accounts for more than 40% of GRP, so its contribution is the most significant,” said the chairwoman of the Economy Committee. “The enterprises of the Industry Ministry, which have reduced production, are of concern for now. We are working closely with the Industry Ministry on this matter. We are working out a set of measures for this and subsequent years. More than 70% of products made in Minsk Oblast are bound for exports. We must be competitive in other markets, otherwise there will be no future.”

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