In order to facilitate the sale of Belarusian products on the Chinese market, Belarus is going to set up a national pavilion in the expo complex of the corporation in Shanghai and to open a restaurant of Belarusian cuisine

The matter was discussed at the meeting of Belarus' Consul General in Shanghai Valery Matsel with top executives of Jiangsu-based companies JOC and Suguo Supermarket. 

As of today, Belarus operates two general consulates in China: one is located in Guangzhou and the other in Shanghai.

 

“The mutual recognition will give a number of preferences to the economic operators having a respective status. One of such preferences is fast customs clearance, including customs procedures related to the issue of goods and customs control,” the State Customs Committee informed

The memorandum provides for the creation of the Belarusian-Chinese initiative to service the capital market: sharing exchange trade information, implementing joint research projects and other activities aimed at the development and support of organized securities markets in each country

Belarusian diplomats and representatives of Shanghai Sinochain have discussed the prospects of shipping food products by Belarusian enterprises (beef, poultry, dairy products), as well as timber and chemical products to the Chinese market

Belarus will have to pay in total approximately $3.2 billion in 2019 to take care of the country’s the external public debt, including $1.1bn in debt service payments and another $2.1bn in principal debt payments

“The R&D centre is expected to become a research base for attracting local talent in the field of artificial intelligence and for cooperation with local research institutions,” the ZhuiYi official told PrimePress

“There are projects related to the potash industry, mechanical engineering, as well as petrochemical projects. In addition, there are certain resources of up to $100 million, which were allocated for the development of small and medium-sized enterprises," Yegorov said

The plant will be construction on a land plot of 3.3 ha. This is a co-financed project, with 70% of the funds provided by China and the remaining 30% by Belarus. The launch is scheduled for 2021

The official said: “Nearly $500 million from all kinds of sources has already been invested in the project. I am talking about shareholders, investors, budgets of the governments, loans, and technical aid. The park is home to 44 resident companies. Another 11 residents will be added today. They represent billions of U.S. dollars in declared investments and 354ha of the explored starting area.”

Belarus' growing export to China is a result of mutual interests. “China is busy implementing reforms, increasing domestic consumption and import and signing free trade agreements, minimizing customs duties for other countries with these goals in mind. We are now in a situation when this market is advantageous for us,” Kirill Rudy said

“Work is underway to raise a loan of the China Development Bank. A memorandum of raising a 3.5 billion yuan loan has already been signed. Now we are working on the borrowing terms,” Maksim Yermolovich said

Welcoming remarks were delivered by Ambassador Extraordinary and Plenipotentiary of Belarus to China Kirill Rudy and Vice Chairperson of the Inner Mongolia autonomous region Ai Lihua. They stressed the importance of the further development of economic contacts and joint projects

First Deputy Chairman of the State Customs Committee Vladimir Orlovsky spoke about the customs simplifications applied in the China-Belarus industrial park Great Stone and the results of the pilot project to apply electronic seals in motor transportation, advantages of mutual recognition of bona fide business statuses of Belarus and China

During negotiations in the consulate general the sides discussed sales of Belarusian food to China – beef, poultry meat, dairy products. Close attention was paid to selling these products via digital commerce platforms of Hangzhou Highstore Technology Company

“China is ready to deepen cooperation with Belarus and to jointly address global governance issues like unilateralism (support for unilateral actions) and protectionism in trade, and to defend the multilateral trading system,” Cui Qiming said

China’s Geely Corporation is eyeing the China-Belarus Industrial Park Great Stone as a potential site for manufacturing automobile parts. A relevant agreement between the Great Stone Industrial Park and Geely is under preparation and will be signed at the international forum on regional cooperation and development within the framework of the Belt and Road initiative, due on July 1-3, 2019

The main theme is “Open park Great Stone - an example of global opportunities”. The event will bring together about 500 participants: government representatives, leaders of business associations, investment funds, banks and major companies from European and Asian countries

The document was inked by Chairman of the Board of the Eurasian Economic Commission (EEC) Tigran Sargsyan, Belarusian Deputy Prime Minister Igor Petrishenko, Kazakh First Deputy Prime Minister Alikhan Smailov, Kyrgyz Deputy Prime Minister Zhenish Razakov, Russian First Deputy Prime Minister, Finance Minister Anton Siluanov, and Chinese Foreign Minister Wang Yi

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