19.08.2019Belarus' new pavilion in China's Chengdu to strengthen business partnership between states
The Belarusian National Pavilion will open in the free economic zone of Chengdu, Sichuan Province in November 2019. Nearby are two biggest markets of Western China and a railway terminal where trains from Belarus come. Mir Castle has been chosen as a design for the Belarusian pavilion which will serve as a permanent exhibiting platform for Belarusian companies
Valery Matsel informed Wang Hongwei about the way Belarusian enterprises and organizations are gearing up for such a large-scale event
In Q1 2019, the region raised more than $70 million in foreign investments. Of them more than $37 millions were direct investments from China, with $17 millions on a net basis.
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