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Country News

1 February 2012

Belarus to promote trade, investment cooperation with India

MINSK, 1 February (BelTA) – Belarus intends to give a boost to mutual trade and investment cooperation with India, Minister of State for Commerce and Industry Jyotiraditya Scindia said in a meeting with Belarus Premier Mikhail Myasnikovich on 31 January. “Within a year or two the two countries would be able to increase mutual trade and investment cooperation,” the PM said. Belarus has all necessary conditions for it, he added, stressing a huge potential in the relations between Belarus and India. “We value highly our trade and economic relations with your country. It is among priorities of our foreign policy. We have already reached that level of cooperation when we may switch from trade to investment and innovation collaboration in different areas,” Mikhail Myasnikovich said. The Belarusian official stressed that the Belarusian-Indian commission for cooperation in economy, trade, industry, science, technologies and culture (which held its fifth meeting on 31 January) plays an important role in intensifying cooperation and developing new areas of cooperation. “We will scrutinize all the agreements reached by the joint commission to create favorable conditions for their implementation,” he noted. Mikhail Myasnikovich expressed slight concern of the bilateral trade that reached its highest in 2009 had recently reduced. “I believe it is temporary, and we will soon be able to restore and further increase our mutual trade,” the Premier said. Mikhail Myasnikovich praised India’s successes in the economic and social development and stressed good prospects for the two states in this area. Belarus is also satisfied with the level of political contacts and political collaboration with India, the Belarusian PM said. The Indian guest for his part praised the potential of the Belarusian-Indian relations and emphasized that India makes every effort to promote their development. It has become the second visit of the Minister of State of India to Belarus this year. India is Belarus’ traditional trading partner in the Asian region. In January-November 2011 Belarus’ exports to India totaled $286.1 million (86.8% to the same months of the previous year). The supplies of potash fertilizers made up $261.6 million, 91.4% of the total export of Belarusian products. In 2010 the bilateral trade reached $482.8 million (80% as compared with 2009). Belarus exported $330.9 million worth of goods to India (67.9%).

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