Foreign Ministry Needs Comprehensive Strategy of Foreign Trade Diversification

29.06.2010 10:46
Архив Редакция

Belarus' Foreign Minister, Sergei Martynov, stated on June 28 at a meeting with the President about the need to form comprehensive state practically oriented strategy of export and import diversification. "Diversification is not a new concept for Belarusian state policy", the head of Foreign Ministry stressed.

«Under the leadership of the president, there has been already formed the foundation of such policy. From 80-85% of exports in favor of Russia in the early 90’s we moved to 32% in 2009. Accordingly, the share of the EU increased in Belarusian export from several per cent up to 44%», Foreign Minister reported, the head of state press service informs.

Sergei Martynov noted that a number of assembly plants abroad is constantly growing, so, only in 2010 15 new ones added to 54 already existed. «But in today’s realities, the previous success is not enough any more», the minister said.

According to the head of Foreign Ministry, one of the strategic directions of foreign trade policy diversification is cooperation with the countries of Latin America. The minister noted that over January-April 2010, trade turnover with the region’s countries rose to 550 million dollars, while export amounted to 337 million dollars and increased by 75% compared to the same period of 2009.

It’s necessary to look for reference points in every region, Martynov

Foreign Minister stated that it was necessary to kook for reference points in every region of the world, using which we can develop large-scale and diverse projects with various countries. In Latin America, such points should be Venezuela, Brazil, Argentina, Bolivia and Cuba, in Asia — China, India, Iran.

According to Sergei Martynov, it’s not used enough the potential of trade with African continent, which reference points are supposed to become Nigeria in the west and Ethiopia in the east. Sergei Martynov called South-East Asia with markets of Indonesia, the Philippines, Thailand as almost «untilled» for Belarusian foreign political activity. The head of Foreign Ministry also stressed the need to develop Belarusian goods re-export projects to third world’s countries with Persian Gulf states.

At the same time, the minister declared that European markets remained traditional for Belarus, where the main problem is «dominance of raw materials and commodities with low VAT in Belarusian export to Europe». «So, the task is to increase export of high technology and science intensive products to the region»», Sergei Martynov said.

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