Belarus and China: Economy

17 мая 2015

Belarus and China have become strategic partners. China really stands out fr om all of our numerous economic partners. The connection between Minsk and Beijing was strengthened by a friendship treaty signed this week in Minsk.

One of the current objectives is to unite the potential of the Eurasian space and economic zone of the Silk Road, which means that each member of the programs will be able to count on funding for major infrastructure projects.

Today the level of credit and investment cooperation between Minsk and Beijing is close to 20 billion dollars.

A friendly handshake. This is a symbol of good relations. Alexander Lukashenko shakes hands and exchanges a few words with the leader of the Chinese delegation.

Regions, provinces and cities. Maximum number of regional representation including heads of 8 major regions of China, top managers of major enterprises, representatives of business, in total 450 people.

Our friendship has helped the economy to mitigate the effects of global financial crisis and the negative impact of difficult processes in the international area.

Belarus is an important strategic node in ambitious China's Silk Road project.

Anatoly Sivak, Minister of Transport and Communications: "Belarus will have a very serious production of Chinese companies."

The logic of the revival of the ancient trade artery requires a large-scale Chinese investment. China is ready to invest.

Daniel Krutzina, managing partner of a consulting company: "In many ways, they save our economy from breakdown in the recession, and also open reserves in energy, communications, construction, logistics, high technology and education."

Vladimir Amarin, Minister of Finance of Belarus: "Cooperation between Belarus and China in the financial sphere is carried out for more than 10 years. During the last visit to our country of managers from China there was a certain breakthrough in this direction. The Ministry of Finance signed two agreements with China Eximport Bank on granting preferential credit in the amount of $ 330 million. The funds will be directed to infrastructure of Sino-Belarusian Industrial park."

Nothing of the kind has happened in the history of independent Belarus. Great Stone Park surpasses even the emergence of Soligorsk, which is now inhabited by 100 thousand people. The territory of the investment area is 80 square kilometers. For comparison it's like three towns of Molodechno, or the largest lake in the country - the Naroch.

Roman Osipov, managing partner of an investment company: "While Belarus is ready to provide access to some technologies, China provides funding and develops joint projects that are associated with this project, primarily focused on technological cooperation."

The new center of attracting investment and advanced technologies. The investment portfolio amounts to more than 0.5 billion dollars. Another 14 companies will soon enter the Great Stone Project. Corporate giants like Huawei will begin construction of high-tech industries.

Vladimir Zinovsky, the Minister of Economy of Belarus, managing partner of investment company: "There is a special presidential decree, which provides benefits for the residents of the park."

During three days the parties signed 50 agreements including the one on specific Chinese loans.

Under the government guarantees China Development Bank signed an agreement with the Development Bank of Belarus on two 15-year credit lines amounting to $ 1 billion.

The National Bank of Belarus and the Central Bank of China agreed to hold bilateral currency swap transactions in rubles and yuan for 1 billion 200 million dollars.

The Belarusian Potash Company and the Chinese Sinochem enterprise signed a memorandum of supply of 4 million tons of potassium for five years in China. The contract cost is about $ 1.3 billion.

Belarusbank attracted a loan amounting to half a billion USD for the project of the construction of Belarusian mining and processing plant in the resource base of Nezhinsky area of Starobin potassium salt deposit.

Vladimir Zinovsky, the Minister of Economy of Belarus: "It means microelectronics, nanotechnology, biotechnology and logistics centers. There are lots of activities, wh ere we could invest these credit resources".

In order to support the industry and investment portfolio the countries established scientific and educational ties. The Technopark of BNTU has already established relations with 7 regions and cities such as Beijing, Harbin and Shanghai.

In the next 2.5 years joint projects will cover biopharmaceuticals, new materials and energy saving.

The National Academy of Sciences of Belarus expects to attract Chinese scientists to BelBiograd Science and Technology Park. The areas of cooperation engulf biology, microbiology, medicine, agriculture and nanotechnology, outer space, drones, laser physics, new materials.