Belarus, China encouraged towards tighter banking cooperation

11 December 2013

MINSK (BelTA) – Belarus and China should cooperate more tightly in banking. The opinion was voiced by Ambassador Extraordinary and Plenipotentiary of China to Belarus Gong Jianwei at the meeting with Chairman of the Council of the Republic of the National Assembly of Belarus Anatoly Rubinov on 11 December. The meeting was timed to the end of the Chinese diplomat’s diplomatic mission in Belarus, BelTA has learned.

Gong Jianwei pointed out that Belarus-China trade is and the rise. In January-September 2013 it exceeded $2.6 billion, in 2012 it was over $2.9 billion. “We are now about to go past the $3 billion mark,” noted the Ambassador. With this in mind he drew attention to the need for tighter Belarus-China cooperation in banking, the financial sector. He reminded that Belarus was one of the first ex-USSR countries to sign an agreement on using national currencies in foreign trade transactions between Belarusian and Chinese companies. Among other things the agreement allows Belarusian companies to pay for imports from China with yuans. In turn, Chinese companies can pay for imports from Belarus in Belarusian rubles instead of US dollars the way it was done before.

The Ambassador also reminded that in July 2013 Belarusian-Chinese relations actually reached a new level — the level of comprehensive strategic partnership as stipulated by the joint declaration signed during the visit of Belarus President Alexander Lukashenko to China. As a result of the visit the sides started working out a roadmap for bilateral cooperation in the future. “We are now working to fill this status with concrete content. The roadmap is being prepared. We expect that the two sides will be able to sign it soon,” noted Gong Jianwei.

He thanked the Belarus parliament and Anatoly Rubinov personally for solid support during his stay in Belarus. He said he hopes that he will return to Belarus once more in a new capacity and will foster the expansion of interaction between the two countries.

Belarus-China diplomatic relations were established in 1992. China is one of the top trade and export partners of Belarus. The two countries are implementing a number of joint projects involving direct investments in the production sector. The bilateral credit and investment cooperation has been stepped up recently. In 2012 Belarus’ key exports to China were potash fertilizers, trucks, machines and mechanisms to harvest and thresh agricultural crops, tractors and truck tractors, parts and accessories for automobiles and tractors.

Ministry of Foreign Affairs of the Republic of Belarus