Дата публикации

Investment growth and new cooperative projects: how trade and economic relations between Belarus and China are developing

The President signed Decree No. 356, which approved as a basis for negotiations a draft agreement between the Government of the Republic of Belarus and the Government of the People's Republic of China on trade in services and investment. Thus, the legal basis for sustainable and dynamic development of trade and investment relations between the two countries is consolidated. We are talking about the creation of a free trade zone in services between Belarus and China, a transparent, liberal and favorable investment regime to attract investment. The agreement creates a basis to develop cooperation in new areas while respecting the interests of both sides in the most sensitive segments of economies. It is expected that in the future cooperation within the framework of the agreement would enable dynamic increase of export of Belarusian services to China and increase investment flows from the PRC.

As part of a comprehensive strategic partnership, Belarus and China are consistently working to create more favorable conditions for cooperation in all spheres. Trade and investment in modern conditions are obviously a priority. Belarus consistently adheres to the principle of mutual support in its relations with China. As Alexander Lukashenko noted during a meeting with Xi Jinping in April 2019, Greater China can always rely on us in any sphere. The parties responsibly maintain a strong unbreakable friendship. But the present hard time requires non-standard approaches and solutions. Our bilateral cooperation should be filled with new content, including agreements on market access. The decision to create a free trade zone in services, that is, a barrier-free environment, is certainly a breakthrough in bilateral relations. The mutually beneficial nature of cooperation in trade and investment is particularly worth noting. Counting on the support of such a powerful partner as China, Belarus also has something to offer. At the talks in Beijing in March, the Head of State noted the possibility of creating joint ventures not only in Belarus, but also in China. Such cooperation will help to increase the competitiveness of products. Obviously, this will also contribute to the promotion of goods and services to the markets of third countries.