Minsk invites China to partake in $1bn worth of investment projects

18 June 2010

MINSK, 18 June (BelTA) – Minsk invites China to take part in investment projects estimated at a total of $1 billion, said Prime Minister of Belarus Sergei Sidorsky as he met with Mayor of Beijing Guo Jinlong on 18 June, BelTA has learnt.

“The government of Belarus is glad to offer Beijing companies an opportunity to take part in the implementation of investment projects in Minsk,” Sergei Sidorsky said.

He reminded that at the recent meeting with Vice-President of the People’s Republic of China Xi Jinping the sides agreed that Belarus would offer China a variety of technological projects that envisage relocating Chinese companies to Belarus and sharing China’s best business practices. “During this meeting I would like to discuss in detail a possibility to relocate a number of high-tech companies of China to Belarus” Sergei Sidorsky underlined. In his opinion, such cooperation seems very attractive taking into consideration the new opportunities offered by the Customs Union.

At the meeting with Xi Jinping, the parties discussed Minsk-Beijing relations, in particular, the construction of a China town in Minsk. “With your help we could embark on this project that would make Minsk more beautiful. We have fulfilled the obligations we had given to our Chinese investors regarding the construction site and guarantees,” the Belarusian Premier said.

Sergei Sidorsky reminded that Minsk will host the 2014 IIHF World Championship; therefore the capital city is now busy constructing new facilities. For example, a number of foreign companies expressed their interest in building hotel complexes in Minsk. “We would like the Beijing hotel to be constructed in Minsk as soon as possible. The government of Belarus will provide all kinds of assistance to implement this project,” Sergei Sidorsky assured the Chinese guest.

Overall, the Premier believes that Belarus-China trade and economic cooperation is gaining momentum. He underlined: “Our countries remain committed to close economic cooperation and integration, instead of adopting a wait-and-see approach like many other countries did amid the global financial crisis.” In the recent years, Belarus has implemented new ambitious projects with the participation of Chinese capital. Those are projects in telecommunications, road construction and other priority areas.

As for investment cooperation, a swap agreement was signed between the National Bank of Belarus and the People’s Bank of China to exchange national currencies, an agreement to develop long-term comprehensive cooperation between the government of Belarus and the Export-Import Bank of China.

Sergei Sidorsky noted that China is Belarus’ strategic partner and our country is a reliable ally of China. He assured the Mayor of Beijing: “Your extensive experience in managing the huge metropolis – from construction and expanding infrastructure to the development of culture and sport – will help us significantly advance our relations both on the interregional and intergovernmental levels.

Ministry of Foreign Affairs of the Republic of Belarus