Lukashenka set to reduce Belarus' dependence on Russian market, build ties with multinational corporations

Belarus is planning to significantly reduce the dependence on traditional sales markets by 2020, updated presidential directive No. 3 says.

The document provides for the gradual diversification of export to ensure the equal distribution of exports between the markets of the Eurasian Economic Union, the European Union and the markets of other countries, including those of the ‘distant arch’ in the ratio of one third per each by 2020.

“This will help balance Belarus’ foreign trade, penetrate new sales markets and gain a foothold there, reduce the risk of dependence of Belarus’ economic growth on individual trading partners,” reads the directive.

Belarusian public administration bodies and other state-run organizations were instructed to search and apply new forms and methods of promoting Belarusian goods, works and services on traditional and new sales markets, ensure the increase in the export of services by providing state support to exporters if necessary, develop dealer relations using marketing instruments, certification, additional services when a mediator is aware of the peculiarities of the local market and covers part of the expenses on a parity basis.

Other priorities include the establishment of cooperation between Belarusian leading manufacturers with multinational corporations in order to raise foreign direct investments. As a result, these enterprises will be able to use modern technologies, equipment, patents to manufacture brand-new products, gain access to the commodity distribution networks of these corporations.

In accordance with the data available on the website of the National Statistics Committee, in January-November 2015 Russia accounted for 38.9% of Belarus’ export (42.3% in January-November 2014), the CIS countries (without Russia) – for 13.7% (16.5%), the EU countries – for 32.1% (29.4%), other countries – for 15.3% (11.8%).

Belsat.eu, via BelTA