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09 April 2024, 12:11

Belarus’ manufacturers urged to tap into markets of Africa, Latin America, Asia

 MINSK, 9 April (BelTA) – Belarusian manufacturers need to occupy their niches in Africa, Latin America and Asia, Belarusian President Aleksandr Lukashenko said at a large meeting to discuss the country’s manufacturing outlook at the Palace of Independence on 9 April, BelTA has learned.

“Making a product is one thing. We know how to do it more or less. The main thing, however, is to be able to sell the product and earn money,” the head of state said.

The foreign trade of organizations affiliated with the Industry Ministry has been defined in the recent years by the growth of export supplies, and also a forced withdrawal from Western markets. In 2023, the industry reached record-high exports of $6.5 billion over the past decade. The increase to the level of 2022 made almost $500 million, or about 8%.

Exports have been steadily increasing for the past three years. This means that the country’s manufacturing sector has been able to level out the negative trends of 2019-2020, Aleksandr Lukashenko said. “We need to consider the structure of these exports,” he added.

The supplies have been reoriented to the markets of friendly countries, first of all, to the traditional market of brotherly Russia and other CIS countries.

“However, the situation is much worse for the far abroad. The sales amounted to less than 20% in relation to the pre-sanction 2021. Plans for exports to friendly faraway countries have not been fulfilled. Today there is a huge demand for industrial products in Africa, Latin America, and Asia. We need to work hard here and occupy our niches, and first of all on the African continent,” the president said.
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