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Tuesday, December 12, 2017

Belarus seeks much more trade with United Kingdom

At a Belarus-London forum Friday, Belarus Economic Minister Nikolai Snopkov said he would like to see Belarus companies with British investors increase 10-fold.

He said 268 Belarus companies have investors from the United Kingdom and that the framework to support growth to at least 10 times that was present in the country's legislative and business practices. There is much to be gained from collaboration between the two, Snopkov said.

"In 2014, the United Kingdom was third in Belarus’ exports, with about $2.3 billion. The U.K. investments in Belarus this year amounted to about $2 billion; about $ 900 million was invested from Belarus in the U.K.,” Snopkov said.

Belarus' political and social stability is a major selling point. Snopkov boasted of low corruption levels in government and a solid business climate and social infrastructure. He drew attention to transport infrastructure within Belarus and said it is a major sector.

"This is a major element of the economic space of the country, an essential element of the European transport system and one of the components of the renascent Great Silk Road,” Snopkov said. He also said 110 million tons of cargo are transported through Belarus annually.

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Belarus Government - Business News

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