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Economy
20 April 2021, 16:06

Restrictions against Belarusian enterprises seen as anticompetitive move

Aleksandr Chervyakov. An archive photo
Aleksandr Chervyakov. An archive photo

MINSK, 20 April (BelTA) – The introduction of restrictions against Belarusian enterprises is a tool used to push competitors out of the market, BelTA learned from Belarusian Economy Minister Aleksandr Chervyakov.

In his words, non-competitive methods of fighting for customers are alarming. “The introduction of restrictions is one of the tools to remove Belarusian producers from international markets. From the markets where Belarusian products have earned a reputation thanks to their quality. Belarus' foreign trade surplus is estimated at $1 billion in Q1 2021. Our products will definitely sell in the Eurasian Economic Union or China if not in the European Union,” the official stressed.

“Amid the pandemic governments should not raise barriers to impede fair and competitive operation of enterprises. Cooperation of our enterprises with foreign ones (either American or European ones) is built on mutual benefits,” Aleksandr Chervyakov said.

Belarusian Foreign Ministry responds to USA's decision to resume anti-Belarusian sanctionsBelarusian Foreign Ministry responds to USA
The statement reads: “We regret the decision of the American side to resume sanctions against [the Belarusian state petrochemical concern] Belneftekhim and its constituent enterprises."

The economy minister remarked that foreign partners built their business processes and planned revenues and investments taking into account cooperation with Belarusian companies. “As a result of the restrictions our partners will have to change their strategies, which may include layoffs. It is an additional negative factor for many economies amid the pandemic. The unemployment rate in those countries is already above pre-COVID levels as it is. It results in social tensions. Besides, it results in budget underfunding, in the lack of money to buy vaccines or COVID medications. More than the life of ordinary people is at stake,” the official explained.

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