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Subsidies to encourage Belarusian exporters to participate in foreign expos

President 14.11.2019 | 19:19

MINSK, 14 November (BelTA) – The state will compensate up to 50% of the money Belarusian exporters spend on foreign expos and certification. The measure is stipulated by the relevant decree Belarus President Aleksandr Lukashenko signed on 14 November, BelTA has learned.

The document is aimed at reducing expenses of Belarusian commercial entities, thus enabling additional conditions for increasing the volume of export of merchandise and services.

The decree introduces export incentives, which are widely used by World Trade Organization member states, including Belarus' partners in the Eurasian Economic Union. In particular, the central state budget will compensate up to 50% of the expenses incurred by exporters as they participate in international specialized expos in foreign countries. The measure is supposed to help exporters establish direct contacts with potential consumers and evaluate their competition.

Exporters will also be able to have some of their expenses compensated as they work to get their products evaluated and certified in other countries. As a rule, getting a product certified abroad is quite a cumbersome process from the financial point of view and the organizational one, particularly for small and medium businesses, which share in the Belarusian export rises gradually.

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